Bank of America Corporation - BAC STOCK NEWS

Bank of America is donating 10,000 Chromebooks to support Charlotte-Mecklenburg Schools students, addressing the digital divide exacerbated by the pandemic. Distribution begins today with partners including Novant Health and E2D. The laptops aim to enhance educational access for over 90% racially and ethnically diverse households. In addition to the devices, the bank commits 10,000 volunteer hours for mentoring and tutoring. Bank of America has invested $6 million in Charlotte over five years, focusing on education and local community support.

Merrill Lynch Wealth Management released studies focusing on the affluent Black/African American, LGBTQ+, and Hispanic/Latino communities, revealing significant growth since 2015, with increases of 65%, 76%, and 81% respectively. The studies emphasize unique financial goals, motivations, and challenges faced by these groups, highlighting a commitment to understanding diverse client experiences. Financial priorities vary among communities, with family support and entrepreneurship being critical for Black individuals, while LGBTQ+ individuals prioritize authenticity and healthcare. Hispanic/Latino respondents emphasize familial support and legacy planning.

Bank of America Corporation announced a quarterly cash dividend of $0.21 per share on its common stock, reflecting a 17% increase from the previous quarter. This dividend will be payable on September 24, 2021, to shareholders on record as of September 3, 2021.

Additionally, a cash dividend of $1.75 per share on the 7% Cumulative Redeemable Preferred Stock, Series B, was declared, payable on October 25, 2021, to shareholders on record as of October 15, 2021.

Bank of America has announced the launch of its new Unlimited Cash Rewards credit card, allowing clients to earn unlimited 1.5% cash back on all purchases without an expiration on rewards. The card includes no annual fee and enables easy redemption for statement credits or deposits. Clients enrolled in the Preferred Rewards program can earn up to 2.62% cash back. Additionally, a Business Advantage Unlimited Cash Rewards card is set to launch in October, offering similar benefits for business owners.

Bank of America announced its second-quarter 2021 financial results, showcasing its leadership in the financial sector. With approximately 66 million consumer clients and over 4,300 retail centers, the bank emphasizes its extensive reach and digital banking capabilities, boasting 41 million active users. Key highlights include strong asset management and investment banking services, positioning BAC as a key player globally. Investors can access further details and listen to the conference call via the Investor Relations website.

Bank of America declared cash dividends for various series of preferred stock. The dividends include:

• Series E: $0.25556, payable on August 16, record date July 30.
• Series F: $1,022.22222, payable on September 15, record date August 31.
• Series G: $1,022.22222, also payable on September 15, record date August 31.
• Series X: $31.25, payable on September 7, record date August 15.
• Series AA: $30.50, payable on September 17, record date September 1.

The company continues to maintain its commitment to returning value to shareholders through consistent dividend payments.

Bank of America will release its Q2 2021 financial results on July 14, 2021, at approximately 6:45 a.m. ET. This will be followed by an investor presentation at 9:00 a.m. ET. Investors can access the results, supplemental filings, and presentations via the company’s Investor Relations website. For those wishing to participate in the investor call, dial in 10 minutes early for a listen-only connection or access the live audio webcast through the same site.

Bank of America disclosed an unsolicited mini-tender offer from Tutanota LLC to purchase 1 million shares at $47 each, contingent on the stock price exceeding this amount on the expiration day. Shareholders are advised against participating as the offer price may be below market value. Tutanota has conditions to fulfill, including financing, which may delay payment. The bank does not endorse this offer and warns that mini-tender offers are less regulated, posing risks for shareholders. Investors are encouraged to consult their brokers for accurate market quotations before deciding.

The Bank of America Chicago Marathon will feature elite runners Galen Rupp and Sara Hall in its 43rd annual event on October 10. Rupp, a two-time Olympic medalist and past Chicago Marathon champion, returns aiming for victory after previous successes and setbacks. Meanwhile, Hall, the second fastest American female marathon runner, seeks to break the American marathon record, currently held at 2:19:36. Both athletes exemplify determination and resilience, as they prepare for a competitive race that represents a global comeback for the running community.