Bank of America Announces Dividend Declarations for Preferred Stock

CHARLOTTE, N.C., Sept. 18, 2024 /PRNewswire/ —

Bank of America Corporation has recently made an important announcement regarding the authorization of regular cash dividends on specific series of preferred stock. This decision showcases the company’s commitment to rewarding its shareholders and ensuring stability in its financial performance.

Dividend Declarations:

Here are the details of the dividend per share or depositary share for each series of preferred stock:

1. 7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L: $18.125 per share, with the record date on October 1 and payment date on October 30.

2. Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series Z: $32.500 per share, with the record date on October 1 and payment date on October 23.

3. 5.875% Non-Cumulative Preferred Stock, Series HH: $0.3671875 per share, with the record date on October 1 and payment date on October 24.

4. 4.375% Non-Cumulative Preferred Stock, Series NN: $0.2734375 per share, with the record date on October 15 and payment date on November 4.

5. 4.125% Non-Cumulative Preferred Stock, Series PP: $0.2578125 per share, with the record date on October 15 and payment date on November 4.

6. 4.375% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series RR: $10.9375000 per share, with the record date on October 1 and payment date on October 28.

7. 6.125% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series TT: $15.3125000 per share, with the record date on October 1 and payment date on October 28.

Each series of preferred stock, with the exception of Series L, is represented by depositary shares.

Effect on Individuals:

As a shareholder of Bank of America Corporation, you can expect to receive regular cash dividends on the specific series of preferred stock mentioned above. This dividend declaration reflects the company’s financial strength and commitment to providing value to its investors.

Global Impact:

The dividend declarations by Bank of America Corporation can have a ripple effect on the global financial market. As one of the largest banking institutions in the world, Bank of America’s decisions often influence trends and sentiment in the global economy. The stability and profitability of a major player like Bank of America can set the tone for other financial institutions and markets worldwide.

Conclusion:

Bank of America’s recent announcement regarding dividend declarations for preferred stock not only benefits individual shareholders but also has broader implications for the global financial landscape. As the company continues to prioritize financial stability and shareholder value, its actions resonate both locally and globally.