Bank of America Declares Preferred Stock Dividends for First Quarter 2022

Rhea-AI Summary

On January 10, 2022, Bank of America announced its Board of Directors authorized cash dividends on several series of preferred stock. Key details include:

• Series E: $0.25556, payable on February 15, record date January 31.
• Series F: $1,000, payable on March 15, record date February 28.
• Series G: $1,000, payable on March 15, record date February 28.
• Series X: $31.25, payable on March 7, record date February 15.

Dividends are primarily distributed quarterly, with some series on a semi-annual basis.

Positive

• Regular cash dividends authorized, signaling financial stability.
• Multiple preferred stock series offering varying dividend payments.

Negative

• None.

CHARLOTTE, N.C., Jan. 10, 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
Floating Rate Non- Cumulative, Series E		$0.25556		January 31				February 15
Floating Rate Non- Cumulative, Series F		$1,000.00000		February 28				March 15
Adjustable Rate Non- Cumulative, Series G		$1,000.00000		February 28				March 15
Fixed-to-Floating Rate Non- Cumulative Preferred Stock, Series X		$31.25		February 15				March 7
Floating Rate Non-Cumulative Preferred Stock, Series 1		$0.1875		February 15				February 28
Floating Rate Non-Cumulative Preferred Stock, Series 2		$0.19167		February 15				February 28
Floating Rate Non-Cumulative Preferred Stock, Series 4		$0.25556		February 15				February 28
Floating Rate Non-Cumulative Preferred Stock, Series 5		$0.25556		February 1				February 22
Cumulative Preferred Stock, Series AA		$30.50		March 1				March 17
Fixed-to-Floating Rate Non- Cumulative Preferred Stock, Series DD		$31.50		February 15				March 10
Fixed-to-Floating Rate Non- Cumulative Preferred Stock, Series FF		$29.375		March 1				March 15
6.000% Non-Cumulative Preferred Stock, Series GG		$0.375		February 1				February 16
5.375% Non-Cumulative Preferred Stock, Series KK		$0.3359375		March 1				March 25
5.000% Non-Cumulative Preferred Stock, Series LL		$0.3125		March 1				March 17
4.250% Non-Cumulative Preferred Stock, Series QQ		$0.3276042		February 1				February 17

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 4,200 retail financial centers, approximately 17,000 ATMs, and award-winning digital banking with approximately 41 million active users, including approximately 32 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 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.

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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:

Jerry Dubrowski, Bank of America
Phone: 1.646.855.1195 (office) or 1.508.843.5626 (mobile)
jerome.f.dubrowski@bofa.com

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

¹ Each series of preferred stock, other than Series F and Series G, is represented by depositary shares.  Dividend payments are made on a quarterly basis for each series of preferred stock, other than Series X, Series AA, Series DD, and Series FF, for which dividends are paid on a semi-annual basis.

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SOURCE Bank of America Corporation

FAQ

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

The dividend amount for Series E is $0.25556, payable on February 15, with a record date of January 31.

When will Bank of America pay dividends for Series F preferred stock?

Dividends for Series F preferred stock will be paid on March 15, with a record date of February 28.

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

Bank of America typically pays dividends quarterly for most preferred stock series, with some series paid semi-annually.

What are the payment dates for Bank of America preferred stock dividends?

Payment dates vary by series; for example, Series E pays on February 15, Series F on March 15, and Series X on March 7.

Are the dividends from Bank of America preferred stock cumulative?

The dividends from Series E, F, G, and other specified series are non-cumulative, while Series AA is cumulative.