Bank of America Increases Common Stock Dividend

Rhea-AI Summary

Bank of America Corporation announced an increase in its quarterly cash dividend to $0.22 per share, up $0.01 from the previous quarter. This dividend is payable on September 30, 2022, to shareholders of record as of September 2, 2022. Additionally, the Board declared a dividend of $1.75 per share on its 7% Cumulative Redeemable Preferred Stock, Series B, payable on October 25, 2022. Bank of America continues to serve around 67 million clients and operates approximately 4,000 retail centers and 16,000 ATMs.

Positive

• Increase in common stock dividend to $0.22 per share, signaling financial strength.
• Continued service to approximately 67 million clients, demonstrating market position.

Negative

• None.

CHARLOTTE, N.C., July 20, 2022 /PRNewswire/ -- Bank of America Corporation today announced the Board of Directors declared a regular quarterly cash dividend on Bank of America common stock of $0.22 per share, up $0.01 from the prior quarter. The dividend is payable on September 30, 2022 to shareholders of record as of September 2, 2022.

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, 2022 to shareholders of record as of October 11, 2022.

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 4,000 retail financial centers, approximately 16,000 ATMs and award-winning digital banking with approximately 55 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 email news 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 is the new dividend amount for Bank of America (BAC)?

The new dividend amount is $0.22 per share.

When will the dividend be paid for Bank of America (BAC)?

The dividend will be paid on September 30, 2022.

What is the record date for Bank of America's dividend payment?

The record date for the dividend payment is September 2, 2022.

How often does Bank of America (BAC) pay dividends?

Bank of America typically pays dividends quarterly.

What is the dividend on the preferred stock of Bank of America (BAC)?

The dividend on the preferred stock, Series B, is $1.75 per share.