Bank of America Increases Common Stock Dividend 8% to $0.28 Per Share, Authorizes $40 Billion Stock Repurchase Program

Dividend Announcement - Bank of America Corporation declared a quarterly cash dividend of $0.28 per share, an increase of $0.02 from the previous quarter, payable on September 26, 2025, to shareholders of record as of September 5, 2025 [1] - Additionally, a quarterly cash dividend of $1.75 per share was declared on the 7% Cumulative Redeemable Preferred Stock, Series B, payable on October 24, 2025, to shareholders of record as of October 10, 2025 [5] Stock Repurchase Program - The Board authorized a new $40 billion common stock repurchase program effective August 1, 2025, replacing the current program which had approximately $9.1 billion remaining as of June 30, 2025 [2] - This new program reflects the company's commitment to return excess capital to shareholders while maintaining the ability to support economic growth and invest in future opportunities [2] Capital Distribution Considerations - Bank of America's ability to make capital distributions is contingent upon maintaining regulatory capital levels above minimum requirements [3] - The timing and amount of stock repurchases will depend on various factors including capital position, liquidity, financial performance, stock trading price, and market conditions [4] Company Overview - Bank of America is a leading financial institution serving a wide range of clients, including individual consumers, small and middle-market businesses, and large corporations [8] - The company operates approximately 3,700 retail financial centers and 15,000 ATMs in the U.S., with around 69 million consumer and small business clients [8][9]