The new payout, amounting to $1.28 on an annualized basis, reflects an annual yield of approximately 2.09% based on Thursday’s closing price of $61.28. This marks a notable uptick from the previous 1.83% yield. The bank confirmed the distribution is scheduled for September 25 to shareholders of record as of September 4.
In section Market Quotes
Bank of America Lifts Quarterly Dividend Payout
Shareholders of Bank of America are set to see a 14% boost in quarterly returns, as the Charlotte-based lender lifts its dividend from 28 cents to 32 cents per share. This move, arriving on the heels of the Federal Reserve’s latest stress test results, signals a broader trend of capital distribution across the banking sector.
Bank of America joined a cohort of major financial institutions that cleared the Federal Reserve’s annual stress tests this year. Following the regulatory green light, several peers have similarly signaled plans to return capital to investors through increased dividends and aggressive stock buyback programs.
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