Bank of America Declares Preferred Stock Dividends for First Quarter 2023

Rhea-AI Summary

Bank of America Corporation announced cash dividends on various series of preferred stock for Q1 2023. Key dividends include:

• Series E: $0.31664 per share, record date January 31, payment date February 15.
• Series F and G: $1,292.25 per share, record date February 28, payment date March 15.
• Series X: $31.25 per share, record date February 15, payment date March 6.
• Additional series listed with varying amounts and dates.

The bank continues to demonstrate strong financial management with consistent dividend payments.

Positive

• Commitment to returning value to shareholders through consistent dividend payments.
• Diverse range of preferred stock series catering to different investor needs.
• The dividend declaration reflects confidence in ongoing financial stability.

Negative

• None.

CHARLOTTE, N.C., Jan. 10, 2023 /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 Preferred Stock, Series E		$0.31664		January 31			February 15
Floating Rate Non-Cumulative Preferred Stock, Series F		$1,292.25000		February 28			March 15
Adjustable Rate Non-Cumulative Preferred Stock, Series G		$1,292.25000		February 28			March 15
Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series X		$31.25		February 15			March 6
Floating Rate Non-Cumulative Preferred Stock, Series 1		$0.3429		February 15			February 28
Floating Rate Non-Cumulative Preferred Stock, Series 2		$0.34412		February 15			February 28
Floating Rate Non-Cumulative Preferred Stock, Series 4		$0.35051		February 15			February 28
Floating Rate Non-Cumulative Preferred Stock, Series 5		$0.33065		February 1			February 21
Fixed-to-Floating Rate Non-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 27
5.000% Non-Cumulative Preferred Stock, Series LL		$0.3125		March 1			March 17
4.250% Non-Cumulative Preferred Stock, Series QQ		$0.2656250		February 1			February 17
4.750% Non-Cumulative Preferred Stock, Series SS		$0.2968750		February 1			February 17

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.

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 email news alerts.

www.bankofamerica.com

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

Jonathan 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 BAC preferred stock series for Q1 2023?

The dividend amounts vary by series, such as $0.31664 for Series E and $1,292.25 for Series F.

When is the payment date for the BAC preferred stock dividends?

Payment dates vary by series, with some on February 15 and others on March 15.

What are the record dates for BAC preferred stock dividends?

Record dates include January 31 for Series E and February 28 for Series F.

Is the dividend payment for BAC preferred stocks sustainable?

The consistent dividend payments indicate a strong commitment to returning value to shareholders.

How often does BAC pay dividends on its preferred stock?

Dividends on preferred stock are generally paid quarterly or semi-annually depending on the series.