Bank of America Declares Preferred Stock Dividends for Fourth Quarter 2022

Rhea-AI Summary

Bank of America announced cash dividends on several series of preferred stock for Q4 2022. Notable dividends include $0.25556 for Floating Rate Non-Cumulative Preferred Stock, Series E, payable on November 15, 2022, and $1,011.11111 for Series F and G, with payment on December 15, 2022. The record dates for these dividends are October 31, 2022, and November 30, 2022, respectively. The company highlights its strong market position, serving around 67 million clients in the U.S. and a presence in 35 countries.

Positive

• Continued dividend payments highlight company stability, providing income for shareholders.
• Strong client base with approximately 67 million consumers and small businesses enhances market confidence.
• Announcement reflects ongoing commitment to returning value to shareholders.

Negative

• None.

CHARLOTTE, N.C., Oct. 13, 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 Preferred Stock, Series E		$0.25556		October 31			November 15
Floating Rate Non-Cumulative Preferred Stock, Series F		$1,011.11111		November 30			December 15
Adjustable Rate Non-Cumulative Preferred Stock, Series G		$1,011.11111		November 30			December 15
Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series U		$26.00		November 15			December 1
Floating Rate Non-Cumulative Preferred Stock, Series 1		$0.2371		November 15			November 28
Floating Rate Non-Cumulative Preferred Stock, Series 2		$0.23595		November 15			November 28
Floating Rate Non-Cumulative Preferred Stock, Series 4		$0.25556		November 15			November 28
Floating Rate Non-Cumulative Preferred Stock, Series 5		$0.25556		November 1			November 21
6.000% Non-Cumulative Preferred Stock, Series GG		$0.375		November 1			November 16
Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series JJ		$25.625		December 1			December 20
5.375% Non-Cumulative Preferred Stock, Series KK		$0.3359375		December 1			December 27
5.000% Non-Cumulative Preferred Stock, Series LL		$0.3125		December 1			December 19
4.250% Non-Cumulative Preferred Stock, Series QQ		$0.2656250		November 1			November 17
4.750% Non-Cumulative Preferred Stock, Series SS		$0.2968750		November 1			November 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 U and Series JJ, 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 67 million consumer and small business clients with approximately 4,000 retail financial centers, approximately 16,000 ATMs and award-winning digital banking with approximately 55 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.

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 in Q4 2022?

The dividend amounts range from $0.25556 to $1,011.11111 depending on the preferred stock series.

When is the payment date for BAC preferred stock dividends?

The payment dates vary; for Series E, it's November 15, 2022, and for Series F and G, it's December 15, 2022.

What are the record dates for BAC preferred stock dividends?

The record dates are October 31, 2022, for Series E and November 30, 2022, for Series F and G.

How often does BAC pay dividends on its preferred stock?

Dividends on BAC preferred stock are generally paid quarterly, except for Series U and JJ, which pay semi-annually.