On Tuesday, February 26, Wells Fargo's preferreds will begin trading ex-div. This means that if you purchase them on Monday you will still receive the dividend while any Tuesday buyers will not. In 2012, Wells Fargo issued two new preferreds - the 5.20% Series N in August and the 5.125% Series O in November. The Series N made its first dividend payment in December while the upcoming payment will be the first for the Series O. The 5.20% Series N closed on Friday at 25.48 while the Series O closed at 25.27.