Bank of America Declares Preferred Stock Dividends for Second Quarter 2022

Rhea-AI Summary

Bank of America has announced cash dividends for various series of preferred stock. The dividends include $0.24722 for Series E and F, $1,022.22222 for Series F and G, and $26.00 for Series U, among others. Key record and payment dates include April 29 for Series E, May 31 for Series F and G, and June 1 for Series U, with the payment dates following shortly after. This announcement reflects Bank of America’s commitment to returning value to shareholders and maintaining its strong position in the financial sector.

Positive

• Consistent shareholder income: Multiple preferred stock series dividends declared.
• Strong dividend amounts: Dividends range from $0.1875 to $1,022.22222, indicating profitability.

Negative

• None.

CHARLOTTE, N.C., April 8, 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		$0.24722		April 29		May 16
Floating Rate Non-Cumulative, Series F		$1,022.22222		May 31		June 15
Adjustable Rate Non-Cumulative, Series G		$1,022.22222		May 31		June 15
Fixed-to-Floating Rate Non-Cumulative, Series U		$26.00		May 15		June 1
Floating Rate Non-Cumulative Preferred Stock, Series 1		$0.1875		May 15		May 31
Floating Rate Non-Cumulative Preferred Stock, Series 2		$0.18542		May 15		May 31
Floating Rate Non-Cumulative Preferred Stock, Series 4		$0.24722		May 15		May 31
Floating Rate Non-Cumulative Preferred Stock, Series 5		$0.24722		May 1		May 23
6.000% Non-Cumulative Preferred Stock, Series GG		$0.375		May 1		May 16
Fixed-to-Floating Rate Non-Cumulative, Series JJ		$25.625		June 1		June 21
5.375% Non-Cumulative Preferred Stock, Series KK		$0.3359375		June 1		June 27
5.000% Non-Cumulative Preferred Stock, Series LL		$0.3125		June 1		June 17
4.250% Non-Cumulative Preferred Stock, Series QQ		$0.2656250		May 1		May 17
4.750% Non-Cumulative Preferred Stock, Series SS		$0.3529514		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 4,200 retail financial centers, approximately 16,000 ATMs, and award-winning digital banking with more than 54 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 news email alerts.

www.bankofamerica.com

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:

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 are the dividend amounts for Bank of America preferred stock?

The dividends vary from $0.1875 to $1,022.22222 depending on the preferred stock series.

When are the record dates for Bank of America dividend payments?

Record dates include April 29 for Series E, May 31 for Series F and G, and various dates in June for other series.

What is the payment date for Bank of America's preferred stock dividends?

Payment dates range from May 16 for Series E to June 27 for Series KK.

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

Dividends are typically paid quarterly, with some series like Series U and JJ being paid semi-annually.

Is the dividend payment sustainable for Bank of America?

The consistent declaration of dividends suggests a stable income outlook for shareholders.