News

Bank of America Did It! Sort Of!

Mission somewhat accomplished.

Bank of America Corp will raise its quarterly dividend above a penny for the first time in more than five years after getting a green light from the Federal Reserve, a milestone in its recovery from the financial crisis. The bank said Wednesday that it would raise its dividend to 5 cents a share from 1 cent, after the Fed said that it wouldn’t object. But the bank scrapped its previous request for a $4 billion buyback. Bank of America had received permission in March for the 5-cent dividend and $4 billion share buyback, as part of the Fed’s annual stress tests of large banks, but it was forced to submit a new plan after announcing in April that it had discovered errors in the way it calculated regulatory capital levels.

BofA Dividend Increase Is a Postcrisis Milestone [WSJ]

5 comments
(hidden for your protection)
Show all comments

5 Responses to “Bank of America Did It! Sort Of!”

  1. Guest says:

    Meanwhile the various law firms that have been defending the company against shareholder and govenment lawsuits maintained that $4 Billion in legal fees in the coming year was a good number.

  2. Spirit Pointer says:

    That picture of Moynihan was taken when he was offered the CEO job in 2009, he has not smiled since.

  3. You can never a get a hold of anyone at this bank. No one ever picks up a phone. Phone system stinks too. No at all satisfied with this bank

  4. Despite the banking crisis of 2008 in the US, Bank of America has managed to restore its former potential and become even more powerful player in the market of foreign exchange operations in the world! If you are a student who wants to prevent a crisis in its education system, choose <a href="http://www.assignmentjedii.co.uk” target=”_blank”>www.assignmentjedii.co.uk

  5. Any research you can order online. We guarantee quality and timely execution.