CHARLOTTE, NC – Bank of America Corporation today announced the Board of Directors declared a regular quarterly cash dividend on Bank of America common stock of $0.26 per share, up $0.02 from the prior quarter. The dividend is payable on September 27, 2024 to shareholders of record as of September 6, 2024.
The Board also authorized a new $25 billion common stock repurchase program, effective August 1, 2024, to replace the company’s current program, which will expire on that date. As of June 30, 2024, the current program had approximately $6.7 billion in common stock repurchases remaining. Today’s authorization will continue to provide additional capital return flexibility going forward, in line with the company’s commitment to return to shareholders excess capital that is not needed to support economic growth, deliver for customers and communities, invest in the future and sustain strength and stability through the economic cycle.
Bank of America’s ability to make capital distributions depends, in part, on its ability to maintain regulatory capital levels above minimum capital requirements.