On 9/12/13, Wells Fargo & Co.'s 7.25% Non-cumulative Exchangeable Perpetual Series A Preferred Securities (NYSE: WNA.PR) will trade ex-dividend, for its quarterly dividend of $0.4531, payable on 9/30/13. As a percentage of WNA.PR's recent share price of $26.21, this dividend works out to approximately 1.73%, so look for shares of WNA.PR to trade 1.73% lower — all else being equal — when WNA.PR shares open for trading on 9/12/13. On an annualized basis, the current yield is approximately 6.90%, which compares to an average yield of 5.74% in the "Financial" preferred stock category, according to Preferred Stock Channel.
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