Bank of America Comments on Stress Test Results; Plans to Increase Quarterly Dividend 8% to $0.26 Per Share

CHARLOTTE, N.C., June 28, 2024 /PRNewswire/ -- Bank of America today commented on the results of the Federal Reserve's 2024 Comprehensive Capital Analysis and Review (CCAR) and announced plans to increase its quarterly common stock dividend to $0.26 per share beginning in the third quarter of 2024.Based on the 2024 CCAR results, Bank of America's stress capital buffer (SCB) will be 3.2% and the CET1 minimum requirement will be 10.7% when finalized.  This new SCB will be effective from October 1, 2024 to Sep ...