Bank of America Announces Stock Dividends and Common Stock Repurchase Plan for Q1-21
19 Gennaio 2021 - 12:15PM
Business Wire
Bank of America today announced the Board of Directors declared
a regular quarterly cash dividend on Bank of America common stock
of $0.18 per share, payable on March 26, 2021 to shareholders of
record as of March 5, 2021.
Also, the Board authorized the repurchase of $2.9 billion in
common stock through March 31, 2021, plus repurchases to offset
shares awarded under equity-based compensation plans during the
same period, estimated to be approximately $0.3 billion. This
authorization equals the maximum allowed for the period, according
to guidelines established by the Federal Reserve Board following
the results of the latest Comprehensive Capital Analysis and Review
examination.
The Board’s decision reflects the strength of the company’s
balance sheet and its continued focus on growing responsibly. At
December 31, 2020 the company’s common equity tier 1 (CET1) ratio
was at an all-time high of 11.9 percent. This translates into $36
billion in capital above the minimum requirement.
The repurchase program will be subject to various factors,
including the company's capital position, liquidity, financial
performance and alternative uses of capital, stock trading price,
and general market conditions, and may be suspended at any time.
The common stock repurchases may be effected through open market
purchases or privately negotiated transactions, including Rule
10b5-1 plans.
The Board also declared a regular quarterly cash dividend of
$1.75 per share on the 7% Cumulative Redeemable Preferred Stock,
Series B. The dividend is payable on April 23, 2021 to shareholders
of record as of April 9, 2021.
Forward-Looking Statements Certain statements contained
in this news release may constitute “forward-looking” statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements represent the current
expectations, plans or forecasts of Bank of America based on
available information. Forward-looking statements can be identified
by the fact that they do not relate strictly to historical or
current facts. These statements often use words like “expects,”
“anticipates,” “believes,” “estimates,” “targets,” “intends,”
“plans,” “predict,” “goal” and other similar expressions or future
or conditional verbs such as “will,” “may,” “might,” “should,”
“would” and “could.” Forward-looking statements speak only as of
the date they are made, and Bank of America undertakes no
obligation to update any forward-looking statement to reflect the
impact of circumstances or events that arise after the date the
forward-looking statement was made.
Forward-looking statements represent Bank of America’s current
expectations, plans or forecasts of its future results, revenues,
expenses, efficiency ratio, capital measures, and future business
and economic conditions more generally, and other future matters.
These statements are not guarantees of its future results or
performance and involve certain known and unknown risks,
uncertainties and assumptions that are difficult to predict and are
often beyond the Bank of America’s control. Actual outcomes and
results may differ materially from those expressed in, or implied
by, any forward-looking statements. You should not place undue
reliance on any forward-looking statement and should consider all
of the uncertainties and risks discussed under Item 1A. “Risk
Factors” of Bank of America’s Annual Report on Form 10-K for the
year ended December 31, 2019 and in any of the Bank of America’s
other subsequent Securities and Exchange Commission filings.
Bank of America Bank of America is one of the world’s
leading financial institutions, serving individual consumers, small
and middle-market businesses and large corporations with a full
range of banking, investing, asset management and other financial
and risk management products and services. The company provides
unmatched convenience in the United States, serving approximately
66 million consumer and small business clients with approximately
4,300 retail financial centers, including approximately 2,700
lending centers, 2,600 financial centers with a Consumer Investment
Financial Solutions Advisor and approximately 2,400 business
centers; approximately 17,000 ATMs; and award-winning digital
banking with approximately 39 million active users, including
approximately 31 million mobile users. Bank of America is a global
leader in wealth management, corporate and investment banking and
trading across a broad range of asset classes, serving
corporations, governments, institutions and individuals around the
world. Bank of America offers industry-leading support to
approximately 3 million small business households through a suite
of innovative, easy-to-use online products and services. The
company serves clients through operations across the United States,
its territories and approximately 35 countries. Bank of America
Corporation stock (NYSE: BAC) is listed on the New York Stock
Exchange.
For more Bank of America news, including dividend announcements
and other important information, visit the Bank of America newsroom
and register for email news alerts.
www.bankofamerica.com
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Investors May Contact: Lee McEntire, Bank of America
Phone: 1.980.388.6780 lee.mcentire@bofa.com
Jonathan G. Blum, Bank of America (Fixed Income) Phone:
1.212.449.3112 jonathan.blum@bofa.com
Reporters May Contact: Jerry Dubrowski, Bank of America
Phone: 1.646.855.1195 (office) or 1.508.843.5626 (mobile)
jerome.f.dubrowski@bofa.com
Christopher P. Feeney, Bank of America Phone: 1.980.386.6794
christopher.feeney@bofa.com
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