Bank of America Declares Preferred Stock Dividends for Third Quarter 2024

Rhea-AI Summary

Bank of America (NYSE: BAC) has announced its Board of Directors' authorization of regular cash dividends on outstanding shares or depositary shares of various series of preferred stock for the third quarter of 2024. The announcement details dividend rates, record dates, and payment dates for 16 different series of preferred stock. These include floating rate, fixed-to-floating rate, and fixed-rate non-cumulative preferred stocks.

Dividend payments are generally made on a quarterly basis, except for Series X, AA, DD, and FF, which are paid semi-annually. The dividend amounts range from $0.2656250 to $1,533.54544 per share or depositary share, depending on the series. Record dates span from July 31 to September 1, with payment dates ranging from August 15 to September 25, 2024.

Positive

• Regular dividend payments demonstrate financial stability and commitment to shareholder returns
• Diverse range of preferred stock offerings caters to different investor preferences

Negative

• None.

CHARLOTTE, N.C., July 19, 2024 /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		$0.37912		July 31		August 15
Floating Rate Non-Cumulative Preferred Stock, Series F		$1,533.54544		August 30		September 16
Adjustable Rate Non-Cumulative Preferred Stock, Series G		$1,533.54544		August 30		September 16
Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series X		$31.25		August 15		September 5
Floating Rate Non-Cumulative Preferred Stock, Series 1		$0.39672		August 15		August 28
Floating Rate Non-Cumulative Preferred Stock, Series 2		$0.39915		August 15		August 28
Floating Rate Non-Cumulative Preferred Stock, Series 4		$0.40553		August 15		August 28
Floating Rate Non-Cumulative Preferred Stock, Series 5		$0.38892		August 1		August 21
Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series AA		$30.50		September 1		September 17
Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series DD		$31.50		August 15		September 10
Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series FF		$29.375		September 1		September 16
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 25
5.000% Non-Cumulative Preferred Stock, Series LL		$0.3125		September 1		September 17
4.250% Non-Cumulative Preferred Stock, Series QQ		$0.2656250		August 1		August 19
4.750% Non-Cumulative Preferred Stock, Series SS		$0.2968750		August 1		August 19

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.

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 69 million consumer and small business clients with approximately 3,800 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 58 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 4 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 more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC).

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 Blum, Bank of America (Fixed Income)
Phone:  1.212.449.3112
jonathan.blum@bofa.com

Reporters May Contact:

Jocelyn Seidenfeld, Bank of America
Phone: 1.646.743.3356
jocelyn.seidenfeld@bofa.com

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SOURCE Bank of America Corporation

FAQ

What is the highest dividend per share declared by Bank of America (BAC) for Q3 2024?

The highest dividend per share declared by Bank of America for Q3 2024 is $1,533.54544 for both Series F and Series G Floating Rate Non-Cumulative Preferred Stock.

When will Bank of America (BAC) pay dividends on its Series X preferred stock in Q3 2024?

Bank of America will pay dividends on its Series X Fixed-to-Floating Rate Non-Cumulative Preferred Stock on September 5, 2024, with a record date of August 15, 2024.

How frequently does Bank of America (BAC) generally pay dividends on its preferred stock?

Bank of America generally pays dividends on its preferred stock quarterly, except for Series X, AA, DD, and FF, which are paid semi-annually.

What is the dividend amount for Bank of America's (BAC) 4.250% Non-Cumulative Preferred Stock, Series QQ?

The dividend amount for Bank of America's 4.250% Non-Cumulative Preferred Stock, Series QQ is $0.2656250 per share or depositary share.