The decision follows the Federal Reserve’s latest stress test, which cleared the path for several major financial institutions to bolster their shareholder return programs. Bank of America’s move aligns with a broader industry trend of boosting payouts after regulators confirmed the sector's resilience.
Bank of America lifts dividend by 14% following profit surge
Bank of America is raising its quarterly common stock dividend by 4 cents to 32 cents per share, a 14% increase. CEO Brian Moynihan framed the hike as a deliberate move to return excess capital to shareholders following the lender’s strong performance in the second quarter.
This dividend adjustment comes on the heels of a robust financial report earlier this month. The bank surpassed Wall Street profit expectations, buoyed by a surge in investment banking activity and record-breaking trading volumes during a period of sustained global market volatility.
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