BANK OF AMERICA ANNOUNCES DIVIDENDS ON PREFERRED STOCK

Dec. 16, 2024 – Charlotte, N.C.

Bank of America Corporation has recently announced that its Board of Directors has authorized regular cash dividends on several series of preferred stock. This move signifies the company’s commitment to providing returns to its shareholders and maintaining stability in the market. Let’s take a closer look at the details of the dividends on the outstanding shares or depositary shares of the following series of preferred stock:

1. 7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L

Dividend per Share or Depositary Share: $18.125

Record Date: January 1

Payment Date: January 30

2. 5.875% Non-Cumulative Preferred Stock, Series HH

Dividend per Share or Depositary Share: $0.3671875

Record Date: January 1

Payment Date: January 24

3. Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series MM

Dividend per Share or Depositary Share: $21.50

Record Date: January 1

Payment Date: January 28

4. 4.375% Non-Cumulative Preferred Stock, Series NN

Dividend per Share or Depositary Share: $0.2734375

Record Date: January 15

Payment Date: February 3

5. 4.125% Non-Cumulative Preferred Stock, Series PP

Dividend per Share or Depositary Share: $0.2578125

Record Date: January 15

Payment Date: February 3

6. 4.375% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series RR

Dividend per Share or Depositary Share: $10.9375000

Record Date: January 1

Payment Date: January 27

7. 6.125% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series TT

Dividend per Share or Depositary Share: $15.3125000

Record Date: January 1

Payment Date: January 27

Each series of preferred stock, other than Series L, is represented by depositary shares.

Bank of America’s decision to authorize these dividends reflects its strong financial position and its ability to generate consistent returns for investors. Shareholders can expect to receive these dividends on the specified payment dates, providing them with a source of income and potentially increasing the stock’s attractiveness in the market.

Impact on Individuals

As a shareholder of Bank of America, receiving regular cash dividends can be a source of passive income for individuals. This announcement indicates the company’s profitability and stability, which can boost investor confidence and possibly lead to an increase in the stock’s value over time.

Global Implications

Bank of America’s decision to pay dividends on preferred stock can have ripple effects in the global financial market. It showcases the company’s strength and reliability, which can attract more investors and contribute to overall market stability. The dividends can also indicate a positive outlook for the banking sector, potentially influencing investment decisions on a larger scale.

Conclusion

In conclusion, Bank of America’s authorization of regular cash dividends on preferred stock demonstrates its commitment to delivering value to shareholders and maintaining a strong financial position. This announcement not only benefits individual investors by providing them with a source of income but also has broader implications for the global financial market, signaling stability and reliability in the banking sector.