Bill Gross warns on gold momentum as regional bank stocks tumble
CHARLOTTE - Bank of America Corporation (NYSE:BAC) announced Friday that its Board of Directors has authorized regular cash dividends on several series of the bank’s preferred stock, with payments scheduled throughout November and December 2025. The banking giant, currently valued at $376.81 billion, has maintained dividend payments for 55 consecutive years, according to InvestingPro data, which also indicates the stock is trading below its Fair Value.
The dividend payments cover multiple series of preferred stock with varying rates. The Floating Rate Non-Cumulative Preferred Stock, Series E, will pay $0.30814 per share to stockholders of record on October 31, with payment on November 17.
The highest dividend amounts will go to holders of Series F and Series G Adjustable Rate Non-Cumulative Preferred Stock, both paying $1,187.90894 per share to stockholders of record on November 28, with payment on December 15.
Other notable dividend payments include the 6.000% Non-Cumulative Preferred Stock, Series GG, paying $0.3750000 per depositary share, and the 5.375% Non-Cumulative Preferred Stock, Series KK, paying $0.3359375 per depositary share.
The bank will also distribute dividends for several floating rate series and fixed-rate preferred stocks, with record dates spanning from November 1 to December 1, and payment dates from November 17 to December 26.
According to the press release statement, Bank of America serves approximately 70 million consumer and small business clients with about 3,600 retail financial centers and 15,000 ATMs across the United States, while also providing wealth management and investment banking services globally. For detailed analysis of BAC’s financial health and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 top US stocks.
In other recent news, Bank of America reported strong quarterly earnings, with an earnings per share of $1.06. This figure surpassed expectations and was noted by UBS analyst Erika Najarian as breaking a significant "psychological" barrier, as the EPS had not exceeded a dollar for some time. Following these results, TD Cowen raised its price target for the company from $59.00 to $61.00, maintaining a Buy rating. Keefe, Bruyette & Woods also increased its price target to $58.00, citing a robust third-quarter performance with a 15.4% return on tangible common equity.
Additionally, Bank of America announced plans to redeem $2.5 billion in 1.197% Fixed/Floating Rate Senior Notes ahead of their October 2026 maturity date. The redemption is scheduled for October 24, 2025, and will include the principal amount plus accrued interest. Moreover, the bank filed an 8-K report with the Securities and Exchange Commission, detailing a legal opinion related to its medium-term notes offerings. These recent developments highlight Bank of America’s strategic financial maneuvers and solid earnings performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.