Bank of America increases their dividend after Federal Reserve stress test
The dividend increase amounts to $0.22 per share.
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Staff or Guest writer for The Dog of Wall Street.
2022-06-27 18:40

Bank of America announced today that it will be increasing its quarterly common stock dividend to $0.22 per share and commented on the results of the Federal Reserve's 2022 Comprehensive Capital Analysis and Review.Bank of America increases their dividend after Federal Reserve stress test
In 2022, Bank of America's stress capital buffer requirements will increase by 100 basis points to 3.5%. This will result in approximately 100 basis points added to the 9.5% CET1 minimum required under Basel III. When finalized, this increased buffer requirement would be effective from October 1st, 2022 to September 30th, 2023. At March 31st, 2022, Bank of America had a CET1 ratio that was 10.4%.

Chief Executive Officer Brian Moynihan said:

Our responsible growth strategy over the last decade has put us in a strong position to support our clients and deliver for shareholders, In October 2021, we renewed the Company's previously announced $25 billion common stock purchase program with $17 billion remaining as of March 31, 2022, and today we are also announcing that we expect to increase the quarterly common stock dividend by 5% to $0.22 per share."

The Bank of America CFO explained that the stress test results for 2022 show how well prepared the company is to serve its customers through difficult economic times.


Disclaimer: I have no positions in any of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article. All information should be independently verified and should not be relied upon for purposes of transacting securities or other investments. See terms for more info.

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