Wells Fargo's Preferred Stock, Series L Yield Pushes Past 5.5%

In trading on Wednesday, shares of Wells Fargo & Co's 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock, Series L (WFC. RL) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $75.00), with shares changing hands as low as $1363.60 on the day.