Bank of America Declares Preferred Stock Dividends

Rhea-AI Summary

Bank of America has announced a cash dividend for its preferred stock series. Noteworthy dividends include $18.125 for the 7.25% Series L, $0.3875 for the 6.200% Series CC, and $0.375 for the 6.000% Series EE, among others. The record date for most dividends is January 1, while the payment dates range from January 25 to February 3. This dividend declaration reinforces the company's financial stability and commitment to returning value to shareholders.

Positive

• Declaration of cash dividends for multiple preferred stock series indicates strong financial stability.
• Dividend amounts range from $0.2855903 to $18.125, offering attractive returns to investors.

Negative

• None.

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		February 1
6.200% Non-Cumulative Preferred Stock, Series CC		$0.3875		January 1		January 29
6.000% Non-Cumulative Preferred Stock, Series EE		$0.375		January 1		January 25
5.875% Non-Cumulative Preferred Stock, Series HH		$0.3671875		January 1		January 25
Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series MM		$21.50		January 1		January 28
4.375% Non-Cumulative Preferred Stock, Series NN		$0.2855903		January 15		February 3

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 semi-annually.

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 66 million consumer and small business clients with approximately 4,300 retail financial centers, including approximately 2,900 lending centers, 2,500 financial centers with a Consumer Investment Financial Solutions Advisor and approximately 2,300 business centers; approximately 17,000 ATMs; and award-winning digital banking with approximately 39 million active users, including approximately 31 million mobile 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 owners 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 email news alerts.

www.bankofamerica.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20201216005886/en/

FAQ

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

The dividend amount for Bank of America's Series L preferred stock is $18.125.

When is the payment date for the Series CC preferred stock dividend?

The payment date for the Series CC preferred stock dividend is January 29.

What are the record dates for the preferred stock dividends?

The record dates for the preferred stock dividends are January 1 for most series, with Series NN having a record date of January 15.

How often are dividends paid for Bank of America's preferred stock?

Dividends for Bank of America's preferred stock are paid quarterly for most series, except Series MM which pays semi-annually.