Bank Of America Announces Plan To Increase Quarterly Dividend From $0.22 To $0.24 Per Share
Portfolio Pulse from Happy Mohamed
Bank of America has announced plans to increase its quarterly common stock dividend from $0.22 per share to $0.24 per share starting in Q3 2023. The increase is subject to approval from the company's Board of Directors. The bank is also in discussions with the Federal Reserve regarding differences between the Federal Reserve's CCAR results and Bank of America's Dodd-Frank Act stress test results.
July 05, 2023 | 8:46 pm
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Bank of America's planned dividend increase could make its stock more attractive to income-focused investors. However, the increase is subject to board approval and ongoing discussions with the Federal Reserve could impact the bank's financial stability.
Dividend increases typically make a stock more attractive to investors seeking income, which could drive up the stock price. However, the increase is not yet approved and ongoing regulatory discussions could have implications for the bank's financial stability, which could impact the stock price.
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