Bank of America Declares First Quarter 2023 Preferred Stock Dividends

Rhea-AI Summary

Bank of America Corporation announced cash dividends on several series of preferred stock, indicating a commitment to returning value to shareholders. The key dividends include: 7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L at $18.125 payable on January 30; 5.875% Non-Cumulative Preferred Stock, Series HH at $0.3671875 on January 24; Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series MM at $21.50 on January 30; and others with varying rates. The record date for most is January 1, emphasizing BAC's steady financial performance.

Positive

• Regular cash dividends authorized for multiple preferred stock series.
• Strong dividend rates, particularly on Series L at 7.25%, indicating financial health.

Negative

• None.

CHARLOTTE, N.C., Dec. 16, 2022 /PRNewswire/ -- Bank of America Corporation today announced the Board of Directors has authorized regular cash dividends on the outstanding shares or depositary shares of the following series of preferred stock:

Series of Preferred Stock	Dividend per Share or Depositary Share1	Record Date	Payment Date
7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L	$18.125	January 1	January 30
5.875% Non-Cumulative Preferred Stock, Series HH	$0.3671875	January 1	January 24
Fixed-to-Floating Rate Non- Cumulative Preferred Stock, Series MM	$21.50	January 1	January 30
4.375% Non-Cumulative Preferred Stock, Series NN	$0.2734375	January 15	February 3
4.125% Non-Cumulative Preferred Stock, Series PP	$0.2578125	January 15	February 2
4.375% Fixed-Rate Reset Non- Cumulative Preferred Stock, Series RR	$10.9375000	January 1	January 27
6.125% Fixed-Rate Reset Non- Cumulative Preferred Stock, Series TT	$15.3125000	January 1	January 27
1 Each series of preferred stock, other than Series L, is represented by depositary shares.    Dividend payments are made on a quarterly basis for each series of preferred stock, other   than Series MM, for which dividends are paid on a semi-annual basis.

Bank of America

Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.  The company provides unmatched convenience in the United States, serving approximately 68 million consumer and small business clients with approximately 3,900 retail financial centers, approximately 16,000 ATMs and award-winning digital banking with approximately 56 million verified digital users.  Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services.  The company serves clients through operations across the United States, its territories and approximately 35 countries.  Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.

Investors May Contact:

Lee McEntire, Bank of America 
Phone:  1.980.388.6780
lee.mcentire@bofa.com

Jonathan G. Blum, Bank of America (Fixed Income)
Phone: 1.212.449.3112
jonathan.blum@bofa.com

Reporters May Contact:

Bill Halldin, Bank of America
Phone: 1.916.724.0093
william.halldin@bofa.com

Christopher P. Feeney, Bank of America 
Phone: 1.980.386.6794
christopher.feeney@bofa.com

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SOURCE Bank of America Corporation

FAQ

What is the dividend amount for Bank of America Series L preferred stock?

The dividend amount for Series L preferred stock is $18.125.

When is the payment date for Bank of America Series HH preferred stock dividends?

The payment date for Series HH preferred stock dividends is January 24.

What is the record date for dividends on Bank of America preferred stocks?

The record date for most dividends on Bank of America preferred stocks is January 1.

How often does Bank of America pay dividends on its preferred stock?

Dividends for each series of preferred stock are typically paid quarterly, though Series MM pays semi-annually.

What are the benefits of investing in Bank of America preferred stocks?

Investing in Bank of America preferred stocks can provide steady income through high dividend rates.