At this time WSF the trust preferred of WFC is selling at a huge discount from their initial price. Somewhere around $13. At that price the return is about 16% current yield, with a yield to maturity north of that. I have read that trust preferreds stand before the regular preferreds in getting the dividend payment. Even the regular preferreds the the US government bought. Is this true? Also what are the real chances that WFC would suspend the dividend (cumulative) for a few years? What would be the downside for WFC if they did that? If safe, it looks like a great investment. I do have some bought at higher prices.Dr. Steve
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