Bank of America Increases Common Stock Dividend 8% to $0.26 Per Share, Authorizes $25 Billion Stock Repurchase Program
Bank of America announced an 8% increase in its quarterly cash dividend to $0.26 per share, payable on September 27, 2024, to shareholders of record on September 6, 2024. The company's Board also authorized a $25 billion stock repurchase program, effective August 1, 2024, replacing the existing program with a remaining $6.7 billion repurchase capacity as of June 30, 2024. The new repurchase program aims to return excess capital to shareholders while maintaining regulatory capital levels and supporting business growth. Additionally, a regular quarterly cash dividend of $1.75 per share was declared for the 7% Cumulative Redeemable Preferred Stock, Series B, payable on October 25, 2024, to shareholders of record as of October 11, 2024.
Bank of America ha annunciato un aumento dell'8% del dividendo in contante trimestrale, portandolo a $0,26 per azione, che sarà pagato il 27 settembre 2024, agli azionisti registrati il 6 settembre 2024. Il Consiglio dell'azienda ha anche autorizzato un programma di riacquisto di azioni da 25 miliardi di dollari, che entrerà in vigore il 1 agosto 2024, sostituendo il programma attuale con una capacità di riacquisto residua di 6,7 miliardi di dollari al 30 giugno 2024. Il nuovo programma di riacquisto mira a restituire capitale in eccesso agli azionisti, mantenendo nel contempo livelli di capitale regolamentare e supportando la crescita aziendale. Inoltre, è stato dichiarato un dividendo in contante trimestrale regolare di $1,75 per azione per le 7% Azioni Preferenziali Cumulabili Riscattabili, Serie B, pagabile il 25 ottobre 2024, agli azionisti registrati il 11 ottobre 2024.
Bank of America anunció un aumento del 8% en su dividendo en efectivo trimestral, llevándolo a $0.26 por acción, pagadero el 27 de septiembre de 2024, a los accionistas registrados el 6 de septiembre de 2024. La Junta de la compañía también autorizó un programa de recompra de acciones de $25 mil millones, efectivo a partir del 1 de agosto de 2024, reemplazando el programa existente que tenía una capacidad de recompra restante de $6.7 mil millones al 30 de junio de 2024. El nuevo programa de recompra tiene como objetivo devolver el capital excedente a los accionistas mientras mantiene los niveles de capital regulatorio y apoya el crecimiento del negocio. Además, se declaró un dividendo en efectivo trimestral regular de $1.75 por acción para las Acciones Preferentes Cumulativas Rescatables del 7%, Serie B, pagadero el 25 de octubre de 2024, a los accionistas registrados el 11 de octubre de 2024.
뱅크오브아메리카는 분기 현금 배당금을 8% 증가시켜 주당 $0.26으로 정하고, 2024년 9월 27일에 배당금을 지급한다고 발표했습니다. 배당금 지급 대상자는 2024년 9월 6일 기준의 주주입니다. 회사 이사회는 250억 달러 규모의 자사주 매입 프로그램도 승인했으며, 이는 2024년 8월 1일부터 시행됩니다. 이전 프로그램의 남은 매입 여력이 2024년 6월 30일 기준으로 67억 달러인 점을 감안하여 새로운 매입 프로그램이 도입된 것입니다. 신규 자사주 매입 프로그램은 과잉 자본을 주주에게 반환하면서 규제 자본 수준을 유지하고 사업 성장을 지원하는 것을 목표로 하고 있습니다. 추가로, 2024년 10월 25일에 지급될 7% 누적 리딤 우선주, 시리즈 B에 대해 주당 $1.75의 정기 분기 현금 배당금도 선언되었습니다. 배당금 지급 대상자는 2024년 10월 11일 기준의 주주입니다.
Bank of America a annoncé une augmentation de 8% de son dividende trimestriel en espèces à 0,26 $ par action, payable le 27 septembre 2024, aux actionnaires inscrits le 6 septembre 2024. Le Conseil de l'entreprise a également autorisé un programme de rachat d'actions de 25 milliards de dollars, qui entrera en vigueur le 1er août 2024, remplaçant le programme existant qui avait une capacité de rachat restante de 6,7 milliards de dollars au 30 juin 2024. Le nouveau programme de rachat vise à retourner le capital excédentaire aux actionnaires tout en maintenant les niveaux de capital réglementaire et en soutenant la croissance de l'entreprise. De plus, un dividende trimestriel en espèces régulier de 1,75 $ par action a été déclaré pour les actions privilégiées cumulables rachetables à 7%, Série B, payable le 25 octobre 2024, aux actionnaires inscrits au 11 octobre 2024.
Die Bank of America hat eine Erhöhung von 8% bei ihrer vierteljährlichen Bardividende auf $0,26 pro Aktie angekündigt, die am 27. September 2024 an die Aktionäre gezahlt wird, die am 6. September 2024 im Aktienregister stehen. Der Vorstand des Unternehmens hat auch ein Aktienrückkaufprogramm über 25 Milliarden Dollar genehmigt, das am 1. August 2024 in Kraft tritt, und das bestehende Programm ersetzt, das zum 30. Juni 2024 noch eine verbleibende Rückkaufkapazität von 6,7 Milliarden Dollar hatte. Das neue Rückkaufprogramm soll überschüssiges Kapital an die Aktionäre zurückgeben, während die regulatorischen Eigenkapitalvorschriften eingehalten und das Unternehmenswachstum unterstützt wird. Darüber hinaus wurde eine regelmäßige vierteljährliche Bardividende von $1,75 pro Aktie für die 7% kumulativ rückkauffähigen Vorzugsaktien, Serie B, erklärt, die am 25. Oktober 2024 an die Aktionäre ausgezahlt wird, die am 11. Oktober 2024 im Aktienregister stehen.
- Bank of America increased its quarterly cash dividend by 8% to $0.26 per share.
- New $25 billion stock repurchase program authorized.
- Repurchase program starts August 1, 2024, enhancing capital return to shareholders.
- Total dividend payout for common stock increased, benefiting shareholders.
- None.
Bank of America's latest dividend increase and stock repurchase program announcement signals a strong financial position and confidence in future performance. The 8% dividend hike to
The authorization of a new
However, investors should note the cautionary language regarding capital distributions. The bank's ability to execute these plans depends on maintaining regulatory capital levels, which could be impacted by economic conditions or regulatory changes. The flexibility in timing and amount of repurchases also suggests a prudent approach, allowing the bank to adjust to market conditions.
From a broader perspective, this move reflects confidence in the bank's ability to generate strong cash flows and maintain a robust capital position. It's a positive signal for the banking sector's health and could potentially lead to increased investor interest in financial stocks.
Bank of America's announcement carries significant implications for both the company and the broader market. The
The
However, it's important to consider the broader economic context. With ongoing concerns about inflation and potential recession, Bank of America's optimistic capital return policy could be seen as a contrarian indicator. Investors should closely monitor how this strategy aligns with the bank's loan loss provisions and overall risk management approach in the coming quarters.
Lastly, the timing of this announcement, coming shortly after the Federal Reserve's stress test results, suggests that Bank of America has not only passed but exceeded regulatory expectations. This could boost investor confidence in the bank's risk management practices and overall financial health.
The Board also authorized a new
Bank of America's ability to make capital distributions depends, in part, on its ability to maintain regulatory capital levels above minimum capital requirements.
The timing and amount of common stock repurchases made pursuant to the Bank of America common stock repurchase program are subject to various factors, including the company's capital position, liquidity, financial performance and alternative uses of capital, stock trading price, regulatory requirements and general market conditions and may be suspended at any time. Such repurchases may be effected through open market purchases or privately negotiated transactions, including repurchase plans that satisfy the conditions of Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.
The Board also declared a regular quarterly cash dividend of
Forward-Looking Statements
Certain statements contained in this news release may constitute "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent the current expectations, plans or forecasts of Bank of America based on available information. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. These statements often use words like "expects," "anticipates," "believes," "estimates," "targets," "intends," "plans," "predict," "goal" and other similar expressions or future or conditional verbs such as "will," "may," "might," "should," "would" and "could." Forward-looking statements speak only as of the date they are made, and Bank of America undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made.
Forward-looking statements represent Bank of America's current expectations, plans or forecasts of its future results, revenues, expenses, dividends, efficiency ratio, capital measures, and future business and economic conditions more generally, and other future matters. These statements are not guarantees of its future results or performance and involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict and are often beyond Bank of America's control. Actual outcomes and results may differ materially from those expressed in, or implied by, any forward-looking statements due to a variety of factors. You should not place undue reliance on any forward-looking statement and should consider all of the precautionary statements, uncertainties and risks discussed in Bank of America's filings with the Securities and Exchange Commission (SEC), including under Item 1A. "Risk Factors" of Bank of America's Annual Report on Form 10-K for the year ended December 31, 2023, and in any of Bank of America's other subsequent SEC filings.
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
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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
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