News Column

Bank of America Increases Quarterly Common Stock Dividend to $0.05 per Share

August 23, 2014



By a News Reporter-Staff News Editor at Investment Weekly News -- Bank of America announced that its Board of Directors approved an increase in the quarterly common stock dividend to $0.05 per share from $0.01 per share. The dividend is payable September 26 to shareholders of record as of September 5.

This marks the first increase in Bank of America's quarterly common stock dividend in seven years and reflects the significant progress the company has made to strengthen the balance sheet and build capital and liquidity.

On May 27, the company updated and resubmitted its requested capital actions and certain schedules as part of the 2014 Comprehensive Capital Analysis and Review (CCAR) process. The requested actions cover the period from the third quarter of 2014 through the first quarter of 2015. The capital actions included an increase in the common stock dividend, but no common stock repurchases. The Federal Reserve Board has informed the company that it did not object to the proposed capital actions.

Keywords for this news article include: Bank of America, Banking and Finance, Investment and Finance.

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Source: Investment Weekly News


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