Bank of America Corp's Non-Cumulative Preferred Stock, Series GG Ex-Dividend Reminder

By Preferred Stock Channel Staff, Friday, April 26, 1:32 PM ET

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On 4/30/24, Bank of America Corp's 6.000% Non-Cumulative Preferred Stock, Series GG (NYSE:BAC.PRB) will trade ex-dividend, for its quarterly dividend of $0.375, payable on 5/16/24. As a percentage of BAC.PRB's recent share price of $25.23, this dividend works out to approximately 1.49%, so look for shares of BAC.PRB to trade 1.49% lower — all else being equal — when BAC.PRB shares open for trading on 4/30/24. On an annualized basis, the current yield is approximately 5.96%, which compares to an average yield of 6.78% in the "Financial" preferred stock category, according to Preferred Stock Channel.

As of last close, BAC.PRB was trading at a 0.72% premium to its liquidation preference amount. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend. The chart below shows the one year performance of BAC.PRB shares, versus BAC:

Performance Comparison Chart

Below is a dividend history chart for BAC.PRB, showing historical dividends prior to the most recent $0.375 on Bank of America Corp's 6.000% Non-Cumulative Preferred Stock, Series GG :

Free Report: Top 8%+ Dividends (paid monthly)

In Friday trading, Bank of America Corp's 6.000% Non-Cumulative Preferred Stock, Series GG (NYSE:BAC.PRB) is currently up about 0.2% on the day, while the common shares (NYSE:BAC) are up about 0.4%.

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Bank of America Corp's Non-Cumulative Preferred Stock, Series GG Ex-Dividend Reminder

Bank of America Corp's Non-Cumulative Preferred Stock, Series GG Ex-Dividend Reminder | www.PreferredStockChannel.com