Bank of America Increases Common Stock Dividend

Rhea-AI Summary

Bank of America Corporation has announced an increase in its regular quarterly cash dividend on common stock and preferred stock. The dividend on common stock has been raised by $0.02 to $0.24 per share, while the dividend on preferred stock remains at $1.75 per share. The dividends will be payable in September and October 2023.

Positive

• Bank of America increases its regular quarterly cash dividend on common stock by $0.02 to $0.24 per share
• Dividend on preferred stock remains at $1.75 per share

Negative

• None.

CHARLOTTE, N.C., July 19, 2023 /PRNewswire/ -- Bank of America Corporation today announced the Board of Directors declared a regular quarterly cash dividend on Bank of America common stock of $0.24 per share, up $0.02 from the prior quarter. The dividend is payable on September 29, 2023 to shareholders of record as of September 1, 2023.

The Board also declared a regular quarterly cash dividend of $1.75 per share on the 7% Cumulative Redeemable Preferred Stock, Series B. The dividend is payable on October 25, 2023 to shareholders of record as of October 10, 2023.

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 68 million consumer and small business clients with approximately 3,900 retail financial centers, approximately 15,000 ATMs and award-winning digital banking with approximately 57 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 (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

View original content to download multimedia:https://www.prnewswire.com/news-releases/bank-of-america-increases-common-stock-dividend-301881262.html

SOURCE Bank of America Corporation

FAQ

What is the new dividend on Bank of America common stock?

The new dividend on Bank of America common stock is $0.24 per share, increased by $0.02 from the prior quarter.

What is the dividend on the 7% Cumulative Redeemable Preferred Stock, Series B?

The dividend on the 7% Cumulative Redeemable Preferred Stock, Series B remains at $1.75 per share.

When will the dividends be payable?

The dividend on common stock will be payable on September 29, 2023, and the dividend on preferred stock will be payable on October 25, 2023.