Wells Fargo’s Series D Preferred Stock Yields 6.2% with 9.5x Coverage
Wells Fargo’s Series D preferred stock yields 6.2% with 17–20x dividend coverage and 9.5x equity-to-preferred coverage, minimizing default risk. Its low coupon and call protection reduce call risk compared to higher-coupon alternatives like Series Y with similar yields.
1. Series D Preferred vs Series Y Comparison
Wells Fargo’s Series D preferred shares offer a 6.2% yield, supported by strong dividend coverage of 17–20x and equity-to-preferred coverage of 9.5x. The lower coupon and built-in call protection reduce early redemption risk, making Series D preferable to higher-coupon alternatives like Series Y which carry less call protection despite similar yields.
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