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Wells Fargo Real Estate Investment Corp., 6.375% Cumul Perp Pfd Stock Series A
Ticker Symbol: WFE-A* CUSIP: 94988N207 Exchange: NYSE
* NOTE: This security is no longer trading as of 12/11/2019
Security has been Called for: Wednesday, December 11, 2019
November 1, 2019 -- Wells Fargo Real Estate Investment Corporation (NYSE: WFE PrA) today announced it will redeem on Dec. 11, 2019 all of its 6.375% Cumulative Perpetual Series A Preferred Stock, Liquidation Preference $25 per share. The Series A Preferred Stock will be redeemed at a redemption price equal to $25.00 per share, plus authorized, declared, but unpaid dividends to the Redemption Date in the amount of $0.31875 per share. The redemption agent for the Series A Preferred Stock is Equiniti Trust Company, 1110 Centre Pointe Curve, Suite 101, Mendota Heights, Minnesota 55120. Payment of the redemption price will be sent automatically to holders by the redemption agent following the redemption date.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Wells Fargo Real Estate Investment Corp., 6.375% Cumulative Perpetual Preferred Stock, Series A, liquidation preference $25 per share, redeemable at the issuer's option on or after 12/11/2019 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 6.375% per annum ($1.59375 per annum or $0.39844 per quarter) will be paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the record date that will be the fifteenth day of the month in which the payment date falls (NOTE: the ex-dividend date is one business day prior to the record date). The issuer may redeem the Preferred Stock prior to 12/11/2019, within 90 days of the occurrence of a Tax Event, a Regulatory Event or an Investment Company Act Event (see prospectus for further information). Dividends paid by preferreds issued by REITs are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. This security was not rated by Moody’s and was rated BBB+ by S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (WFC)
IPO - 12/4/2014 - 9.60 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: WFEPA Changed: 12/08/2014
Market Value $239.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 420 Montgomery Street, San Francisco, CA 94163 |
| Main Phone Number |
866-249-3302 |
| Fax Number |
Not Available |
| Investor Relations
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415-371-2921
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| Toll Free Phone Number |
888-662-7865 |
| CEO - John G. Stumpf |
CFO - John Shrewsberry |
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