Bank of America Declares Preferred Stock Dividends for Third Quarter 2022

Rhea-AI Summary

On July 13, 2022, Bank of America Corporation announced its Board of Directors approved cash dividends for various series of preferred stock. Key dividends include: $0.25556 for Series E (payable on August 15, record date July 29), $1,022.22222 for Series F and G (payable on September 15, record date August 31), and $31.25 for Series X (payable on September 6, record date August 15). Dividends will be distributed quarterly or semi-annually depending on the series. This demonstrates the company’s commitment to returning value to shareholders.

Positive

• $0.25556 dividend for Series E reflects strong shareholder returns.
• $1,022.22222 for Series F and G indicates solid dividend income.
• $31.25 for Series X suggests continued confidence in financial stability.

Negative

• None.

CHARLOTTE, N.C., July 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	July 29	August 15
Floating Rate Non-Cumulative Preferred Stock, Series F	$1,022.22222	August 31	September 15
Adjustable Rate Non-Cumulative Preferred Stock, Series G	$1,022.22222	August 31	September 15
Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series X	$31.25	August 15	September 6
Floating Rate Non-Cumulative Preferred Stock, Series 1	$0.1875	August 15	August 29
Floating Rate Non-Cumulative Preferred Stock, Series 2	$0.19167	August 15	August 29
Floating Rate Non-Cumulative Preferred Stock, Series 4	$0.25556	August 15	August 29
Floating Rate Non-Cumulative Preferred Stock, Series 5	$0.25556	August 1	August 22
Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series AA	$30.50	September 1	September 19
Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series DD	$31.50	August 15	September 12
Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series FF	$29.375	September 1	September 15
6.000% Non-Cumulative Preferred Stock, Series GG	$0.375	August 1	August 16
5.375% Non-Cumulative Preferred Stock, Series KK	$0.3359375	September 1	September 26
5.000% Non-Cumulative Preferred Stock, Series LL	$0.3125	September 1	September 19
4.250% Non-Cumulative Preferred Stock, Series QQ	$0.2656250	August 1	August 17
4.750% Non-Cumulative Preferred Stock, Series SS	$0.2968750	August 1	August 17

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 4,100 retail financial centers, approximately 16,000 ATMs, and award-winning digital banking with approximately 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

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.

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SOURCE Bank of America Corporation

FAQ

What is the dividend amount for BAC Series E?

The dividend amount for BAC Series E is $0.25556.

When is the payment date for BAC Series F?

The payment date for BAC Series F is September 15, 2022.

What is the record date for BAC Series G dividends?

The record date for BAC Series G dividends is August 31, 2022.

Is the BAC dividend paid quarterly or annually?

Dividends for BAC preferred stocks are paid quarterly or semi-annually, depending on the series.

What are the dividend details for BAC Series X?

For BAC Series X, the dividend is $31.25, payable on September 6, 2022, with a record date of August 15, 2022.