Bank of America Sets Preferred Dividend

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Banking giant Bank of Americaannounced yesterday its second-quarter dividend on its Series L 7.25% non-cumulative perpetual convertible preferred stock of $18.125 per share. The preferred shares trade on the NYSE under the symbol BAC-PL.

The board of directors said the quarterly dividend is payable on July 30 to the holders of record at the close of business on July 1.

The bank also pays a regular dividend payment of $0.01 per share per quarter equating to a $0.04-per-share annual dividend, yielding 0.3% based on the closing price of Bank of America's stock on June 17.


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The article Bank of America Sets Preferred Dividend originally appeared on Fool.com.

Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool recommends Bank of America. The Motley Fool owns shares of Bank of America. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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