Bank of America Declares Preferred Stock Dividends for First Quarter 2022

Rhea-AI Summary

Bank of America Corporation has announced regular cash dividends on its preferred stock series for the first quarter of 2022. Key details include:

• Series L: $18.125, payable on January 31
• Series HH: $0.3671875, payable on January 24
• Series MM: $21.50, payable on January 28
• Series NN: $0.2734375, payable on February 3
• Series PP: $0.2578125, payable on February 2

The record date for all series is January 1.

Positive

• The declared dividends represent a continued commitment to rewarding shareholders.
• Diverse preferred stock offerings enhance investor interest.

Negative

• None.

CHARLOTTE, N.C., Dec. 16, 2021 /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 31
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 28
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

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.

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:
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 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.  

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SOURCE Bank of America Corporation

FAQ

What are the dividend amounts for BAC preferred stock in Q1 2022?

BAC declared dividends of $18.125 for Series L, $0.3671875 for Series HH, $21.50 for Series MM, $0.2734375 for Series NN, and $0.2578125 for Series PP.

When is the dividend payment date for BAC Series L preferred stock?

The payment date for BAC Series L preferred stock is January 31, 2022.

What is the record date for the preferred stock dividends declared by BAC?

The record date for all preferred stock dividends declared by BAC is January 1, 2022.

How often does BAC pay dividends on its preferred stock?

BAC pays dividends quarterly for most preferred stock series, with Series MM paying semi-annually.

Is the dividend payment by BAC sustainable?

The sustainability of BAC's dividend payments can depend on the company's ongoing financial performance and cash flow.