Bank of America increases their dividend after Federal Reserve stress test
The dividend increase amounts to $0.22 per share.
avatar
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.

Rate this article

positive
negative
Published On
2022-06-27 18:40

avatar
About the Author
Staff or Guest writer for The Dog of Wall Street.


buy-coffee
You've read 1 article in the last year
..thank you for supporting us and for visiting our site. Unlike many other sites, The Dog of Wall Street is available for everyone to read. Our focus is to provide great content for free. Do you like what we are doing? Buy us a cup coffee. It is the fuel that keeps us going..

Elon Musk pulls out of $44 billion Twitter takeover deal
Elon Musk is pulling out of the deal.
By Staff | 1 month ago

Tesla shipped 78,906 China-made cars in June
Almost all production went to Chinese buyers.
By Staff | 1 month ago

Google apparently offered to break off ad company to avoid a lawsuit
Google has proposed to divide its ad-tech division to avoid a second DOJ antitrust case, The Wall Street Journal said Friday.
By Staff | 1 month ago

Spirit postponed a shareholder vote on a Frontier merger for the third time
Investors have more to lose with a Frontier deal, but it may not be over yet.
By Staff | 1 month ago

Chinese court rules USDT stablecoin crypto payments as illegal
On Wednesday, China’s Chaoyang Court upheld the decision that companies cannot pay wages in Tether currency.
By Staff | 1 month ago

Tesla Q2 deliveries fall on shutdown in China
Tesla Production and Deliveries for Q2 of 2022
By Staff | 1 month ago

Dan Ives now has a $40 price target for Rivian
Production numbers are now going in the right direction.
By Staff | 1 month ago