Bank of America Declares Second Quarter 2022 Preferred Stock Dividends

Rhea-AI Summary

Bank of America has declared regular cash dividends on its preferred stock series for the second quarter of 2022. The dividends include:

• 7.25% Non-Cumulative Convertible Preferred Stock, Series L: $18.125, payable on May 2.
• Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series Z: $32.500, payable on April 25.
• 5.875% Non-Cumulative Preferred Stock, Series HH: $0.3671875, payable on April 25.
• 4.375% Non-Cumulative Preferred Stock, Series NN: $0.2734375, payable on May 3.
• 4.125% Non-Cumulative Preferred Stock, Series PP: $0.2578125, payable on May 2.
• 4.375% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series RR: $11.1805556, payable on April 27.

Positive

• Regular cash dividends authorized for multiple series of preferred stock.
• High dividend yields up to 7.25% enhancing shareholder returns.
• Consistent payment schedule, ensuring predictability for investors.

Negative

• None.

CHARLOTTE, N.C., March 15, 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
7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L	$18.125	April 1	May 2
Fixed-to-Floating Rate Non- Cumulative Preferred Stock, Series Z	$32.500	April 1	April 25
5.875% Non-Cumulative Preferred Stock, Series HH	$0.3671875	April 1	April 25
4.375% Non-Cumulative Preferred Stock, Series NN	$0.2734375	April 15	May 3
4.125% Non-Cumulative Preferred Stock, Series PP	$0.2578125	April 15	May 2
4.375% Fixed-Rate Reset Non- Cumulative Preferred Stock, Series RR	$11.1805556	April 1	April 27

1	Each series of preferred stock, other than Series L, is represented by depositary shares. Dividend payments are made on a quarterly basis for each series of preferred stock, other than Series Z, 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.  Click here to 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 declared by Bank of America for Q2 2022?

Bank of America declared several dividends, including $18.125 for Series L and $32.500 for Series Z.

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

Payment dates vary by series, with the earliest being April 25 for Series Z and May 2 for Series L.

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

Dividends are paid quarterly for most series, except for Series Z, which pays semi-annually.

What is the record date for the dividends declared by Bank of America?

Record dates range from April 1 to April 15, depending on the preferred stock series.

Are the dividends from Bank of America sustainable?

Bank of America has a track record of consistent dividend payments, suggesting sustainability for investors.