Bank of America Announces New $40 Billion Stock Repurchase Program and Dividends

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The Board also declared a regular quarterly cash dividend of $0.28 per share on common stock and $1.75 per share on 7% Cumulative Redeemable Preferred Stock, Series B. The repurchase program is intended to replace the current program, which will expire on August 1, 2025, and will provide additional capital return flexibility to shareholders.

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About Bank of America Corporation

Bank of America Corporation is a leading financial services company, offering a comprehensive range of banking, investment, and risk management services to individual, corporate, and institutional clients globally. As one of the largest banks in the United States, it provides essential financial products such as checking and savings accounts, credit cards, loans, wealth management, and mortgage services. Bank of America's operations are organized into various sectors, including consumer banking, global wealth and investment management, global banking, and global markets, reflecting its diverse business model and expansive client reach. The corporation is a pivotal player in global finance, influencing capital flow and investment strategies through its widespread network of branches and ATMs. Its role extends beyond traditional banking as it actively engages in community development and sustainability initiatives. Headquartered in Charlotte, North Carolina, Bank of America is well-integrated into the global financial system, with presence across several continents supporting economic growth and financial inclusion. With a strategic focus on technology and digital transformation, the bank enhances customer experiences and operational efficiency while staying ahead in an increasingly competitive financial landscape.