By a News Reporter-Staff News Editor at Economics Week -- Bank of America Corporation announced the Board of Directors declared a regular quarterly cash dividend on Bank of America common stock of $0.01 per share, payable June 30 to shareholders of record as of June 24.
The board also declared a regular quarterly cash dividend of $1.75 per share on the 7 percent Cumulative Redeemable Preferred Stock, Series B. The dividend is payable July 25 to shareholders of record as of July 11.
The board also declared a regular quarterly cash dividend of $18.125 per share on the 7.25 percent Non-Cumulative Perpetual Convertible Preferred Stock, Series L. The dividend is payable on July 30 to shareholders of record as of July 1.
As previously announced, on May 27, 2014 the company resubmitted its requested capital actions and certain 2014 Comprehensive Capital Analysis and Review ("CCAR") schedules to the Board of Governors of the Federal Reserve System (the "Federal Reserve"). Pursuant to CCAR capital plan rules, the Federal Reserve has up to 75 days to review the company's resubmitted 2014 CCAR items, including the requested capital actions.
Bank of AmericaBank of America is one of the world's largest financial institutions, serving individual consumers, small businesses, 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 49 million consumer and small business relationships with approximately 5,100 retail banking offices and approximately 16,200 ATMs and award-winning online banking with 30 million active users and more than 15 million mobile users. Bank of America is among the world's leading wealth management companies and is a global leader in 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 owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
Visit the Bank of America newsroom for more Bank of America news. www.bankofamerica.com
Keywords for this news article include: Economics, Bank of America, Federal Reserve, Banking and Finance, Investment and Finance.
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