Tomahawk, WI 07/10/2014 (Basicsmedia) – Bank of America Corp (NYSE:BAC) announced on July 9 that its Board of Directors opted to authorize sumptuous dividends on a myriad of preferred stocks.
Series D Dividends
The organization has come to a conclusion that a holistically approved cash dividend amounting to $0.38775 for each depositary share for 6.204% of Series D preferred Stock (Non-Cumulative in nature), shall be paid on September 15. The amount shall be panned out to shareholders mentioned in the record book till August 29, 2014.
Series E Dividends
On a similar premise, BAC is deemed to pay cash dividend for Series E stock, amounting to $0.25556 per depositary share, on August 15 to all the shareholders whose records are available till July 31.
Series G Dividends
Bank of America Corp (NYSE:BAC) has decided to pay $1,022.22222 as a per depositary share price to floating rate Series F stock holders and the same for Series G adjustable rate non-cumulative stock holders. The amounts shall be paid on September 15, for the shareholders in-record till August 29.
Series I Dividends
The Series I stockholders shall notch up cash dividends amounting to $0.4140625/ depositary share only for the 6.625% stock, payable on October 1, to the shareholders on record till September 15.
Series K Dividends
Bank of America Corp (NYSE:BAC) further reaffirms that Series K fixed-to-floating rate stockholders would notch up semi annual dividends in cash, amounting to $40K per depositary share, payable on July 30, for all the individuals registered till July 15, 2014.
Dividends for Series 1-5
However, quarterly dividends shall be paid out in cash for amounts of $0.18750 for Series 1, $0.19167 for Series 2, $0.3984375 for Series 3 and $0.25556 for Series 4 – all calculated on a per-depositary share basis, on August 28, to all and sundry whose details shall be registered in the record books till August 15. Series 5 stockholders would receive the same amount per depositary share as the Series 4 shareholders; however, the payout date is on August 21, for every registered shareholder as on August 1, 2014.
A number of bank suits on discrimination charges (the latest being the Miami mortgage discrimination petition), have resulted in investors holding themselves back from investing in the BAC stock. The dividend payout scheme is expected to benefit Bank of America Corp (NYSE:BAC) in luring investors in numbers!