What's Going On With Bank Of America Stock?
Portfolio Pulse from Adam Eckert
Bank Of America Corp (NYSE:BAC) has announced plans to increase its quarterly dividend by 9%, from 22 cents per share to 24 cents per share, starting in the third quarter. The dividend increase is yet to be approved by the company's board. The bank is set to report its Q2 financial results on July 18, with expected earnings of 85 cents per share on quarterly revenue of $25.16 billion.
July 05, 2023 | 9:10 pm
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Bank Of America plans to increase its dividend by 9%, which could make the stock more attractive to income-focused investors. The bank's upcoming Q2 financial results could also impact the stock price.
Dividend increases are generally seen as a positive signal by the market, indicating a company's confidence in its future earnings. This could lead to increased demand for the stock, pushing the price up. Additionally, the bank's Q2 financial results could also impact the stock price, depending on whether they meet, exceed, or fall short of expectations.
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