SPDR Wells Fargo Preferred Stock ETF (NYSEARCA:PSK) announced a monthly dividend on Monday, December 3rd, Wall Street Journal reports. Shareholders of record on Tuesday, December 4th will be given a dividend of 0.20 per share on Friday, December 7th. This represents a $2.40 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date of this dividend is Monday, December 3rd.
SPDR Wells Fargo Preferred Stock ETF stock opened at $40.18 on Tuesday. SPDR Wells Fargo Preferred Stock ETF has a 52-week low of $40.12 and a 52-week high of $45.19.
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About SPDR Wells Fargo Preferred Stock ETF
SPDR Wells Fargo Preferred Stock ETF (the Fund) seeks to replicate the total return of the Wells Fargo Hybrid and Preferred Securities Aggregate Index (the Index). The Index is a modified market capitalization weighted index designed to measure the performance of non-convertible preferred stock and securities that are functionally equivalent to preferred stock, including, but not limited to, depositary preferred securities, perpetual subordinated debt and certain securities issued by banks and other financial institutions that are eligible for capital treatment with respect to such instruments akin to that received for issuance of straight preferred stock.
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