Bank of America Declares Preferred Stock Dividends for Fourth Quarter 2024

Rhea-AI Summary

Bank of America (NYSE: BAC) has announced its Board of Directors' authorization of regular cash dividends on outstanding shares or depositary shares of various series of preferred stock for the fourth quarter of 2024. The dividends cover multiple series, including Floating Rate Non-Cumulative Preferred Stock and Fixed Rate Non-Cumulative Preferred Stock, with payment dates ranging from November 15 to December 26, 2024.

The dividend amounts vary by series, with rates between 4.250% and 6.000% for fixed-rate preferred stocks. Record dates for dividend eligibility span from October 31 to December 1, 2024. This announcement demonstrates Bank of America's commitment to providing returns to its preferred stockholders across its diverse range of preferred stock offerings.

Positive

• Regular dividend payments indicate financial stability
• Diverse range of preferred stock offerings catering to different investor preferences
• Consistent dividend schedule maintained for Q4 2024

Negative

• None.

News Market Reaction

-1.32%

1 alert

-1.32% News Effect

On the day this news was published, BAC declined 1.32%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

CHARLOTTE, N.C., Oct. 18, 2024 /PRNewswire/ -- Bank of America Corporation today announced the Board of Directors has authorized regular cash dividends on the outstanding shares or depositary shares of the following series of preferred stock: 

Series of Preferred Stock		Dividend per Share or Depositary Share1		Record Date		Payment Date
Floating Rate Non-Cumulative Preferred Stock, Series E		$0.36606		October 31		November 15
Floating Rate Non-Cumulative Preferred Stock, Series F		$1,417.64097		November 29		December 16
Adjustable Rate Non-Cumulative Preferred Stock, Series G		$1,417.64097		November 29		December 16
Floating Rate Non-Cumulative Preferred Stock, Series 1		$0.38077		November 15		November 29
Floating Rate Non-Cumulative Preferred Stock, Series 2		$0.38284		November 15		November 29
Floating Rate Non-Cumulative Preferred Stock, Series 4		$0.38923		November 15		November 29
Floating Rate Non-Cumulative Preferred Stock, Series 5		$0.37616		November 1		November 21
6.000% Non-Cumulative Preferred Stock, Series GG		$0.3750000		November 1		November 18
5.375% Non-Cumulative Preferred Stock, Series KK		$0.3359375		December 1		December 26
5.000% Non-Cumulative Preferred Stock, Series LL		$0.3125000		December 1		December 17
4.250% Non-Cumulative Preferred Stock, Series QQ		$0.2656250		November 1		November 18
4.750% Non-Cumulative Preferred Stock, Series SS		$0.2968750		November 1		November 18

1	Each series of preferred stock, other than Series F and Series G, is represented by depositary shares.  Dividend payments are made on a quarterly basis for each series of preferred stock.

 

Bank of America

Bank of America is one of the world's leading financial institutions, serving individual consumers, small and 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 69 million consumer and small business clients with approximately 3,700 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 58 million verified digital users. Bank of America is a global leader in wealth management, 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 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC).

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom.  Click here to register for news email alerts.

Investors May Contact:

Lee McEntire, Bank of America
Phone:  1.980.388.6780
lee.mcentire@bofa.com

Jonathan G. Blum, Bank of America (Fixed Income)
Phone: 1.212.449.3112
jonathan.blum@bofa.com

Reporters May Contact:

Jocelyn Seidenfeld, Bank of America
Phone: 1.646.743.3356
jocelyn.seidenfeld@bofa.com 

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SOURCE Bank of America Corporation

FAQ

What is the highest dividend rate among Bank of America's preferred stocks for Q4 2024?

The highest dividend rate among Bank of America's (BAC) preferred stocks for Q4 2024 is 6.000% for the Non-Cumulative Preferred Stock, Series GG.

When is the earliest payment date for Bank of America's preferred stock dividends in Q4 2024?

The earliest payment date for Bank of America's (BAC) preferred stock dividends in Q4 2024 is November 15, 2024, for the Floating Rate Non-Cumulative Preferred Stock, Series E.

How many series of preferred stock are included in Bank of America's Q4 2024 dividend announcement?

Bank of America (BAC) announced dividends for 13 different series of preferred stock in its Q4 2024 dividend declaration.

What is the dividend amount for Bank of America's 5.000% Non-Cumulative Preferred Stock, Series LL?

The dividend amount for Bank of America's (BAC) 5.000% Non-Cumulative Preferred Stock, Series LL is $0.3125000 per depositary share for Q4 2024.