Bank of America Declares Preferred Stock Dividends for Second Quarter 2023

Rhea-AI Summary

Bank of America has announced its Board of Directors' approval for cash dividends on preferred stock for the second quarter of 2023. The dividends vary across several series:

• Series E: $0.32223, payable on May 15, with a record date of April 28.
• Series F: $1,345.82967, payable on June 15, with a record date of May 31.
• Series G: $1,345.82967, payable on June 15, with a record date of May 31.
• Series U: $26.00, payable on June 1, with a record date of May 15.
• Series 1: $0.3565, payable on May 30, with a record date of May 15.
• Series 2: $0.34632, payable on May 30, with a record date of May 15.

The dividend payments reflect the company's ongoing commitment to return value to shareholders.

Positive

• Announcement of regular cash dividends demonstrates financial stability and confidence in ongoing profitability.
• Diverse series of preferred stock dividends provide consistent returns for investors.

Negative

• None.

CHARLOTTE, N.C., April 6, 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		$0.32223		April 28			May 15
Floating Rate Non-Cumulative Preferred Stock, Series F		$1,345.82967		May 31			June 15
Adjustable Rate Non- Cumulative Preferred Stock, Series G		$1,345.82967		May 31			June 15
Fixed-to-Floating Rate Non- Cumulative Preferred Stock, Series U		$26.00		May 15			June 1
Floating Rate Non-Cumulative Preferred Stock, Series 1		$0.3565		May 15			May 30
Floating Rate Non-Cumulative Preferred Stock, Series 2		$0.34632		May 15			May 30
Floating Rate Non-Cumulative Preferred Stock, Series 4		$0.35250		May 15			May 30
Floating Rate Non-Cumulative Preferred Stock, Series 5		$0.33470		May 1			May 22
6.000% Non-Cumulative Preferred Stock, Series GG		$0.375		May 1			May 16
Fixed-to-Floating Rate Non- Cumulative Preferred Stock, Series JJ		$25.625		June 1			June 20
5.375% Non-Cumulative Preferred Stock, Series KK		$0.3359375		June 1			June 26
5.000% Non-Cumulative Preferred Stock, Series LL		$0.3125		June 1			June 20
4.250% Non-Cumulative Preferred Stock, Series QQ		$0.2656250		May 1			May 17
4.750% Non-Cumulative Preferred Stock, Series SS		$0.2968750		May 1			May 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 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 in Q2 2023?

The dividend amounts vary by series, with Series E at $0.32223, Series F at $1,345.82967, and others listed in the announcement.

When are the record and payment dates for BAC dividends?

Record dates range from April 28 to June 1, and payment dates range from May 15 to June 30, depending on the series.

How often does BAC pay dividends on preferred stock?

Most series of Bank of America preferred stock pay dividends quarterly, while Series U and Series JJ pay semi-annually.