BAC and 32 other banks passed through Fed stress test, and announced hike on dividend and stock repurchase, great news for my position.
Wednesday, June 28, 2017 4:50 pm EDT
Bank of America today announced that the company’s Board of Directors plans to increase its quarterly common stock dividend by 60 percent to $0.12 per share, beginning in the third quarter of 2017.
Also, the Board authorized the repurchase of $12 billion in common stock from July 1, 2017 through June 30, 2018, plus repurchases to offset shares awarded under equity-based compensation plans during the same period, estimated to be approximately $0.9 billion.
The Federal Reserve Board has informed the company that it completed its 2017 Comprehensive Capital Analysis and Review and that it did not object to Bank of America’s capital plan, including the proposed dividend increase and stock repurchases.
The repurchase program, which covers both common stock and warrants, will be subject to various factors, including the company’s capital position, liquidity, financial performance and alternative uses of capital, stock trading price, and general market conditions, and may be suspended at any time. The common stock or warrant repurchases may be effected through open market purchases or privately negotiated transactions, including Rule 10b5-1 plans.
About Timeless Investor
My name is Samual Lau. I am a long-term value investor and a zealous disciple of Ben Graham. And I am a MBA graduated in May 2010 from Carnegie Mellon University. My concentrations are Finance, Strategy and Marketing.
TimelessInvestor
BAC passed stress test, hiked dividend and stock repurchase
BAC and 32 other banks passed through Fed stress test, and announced hike on dividend and stock repurchase, great news for my position.
Wednesday, June 28, 2017 4:50 pm EDT
Bank of America today announced that the company’s Board of Directors plans to increase its quarterly common stock dividend by 60 percent to $0.12 per share, beginning in the third quarter of 2017.
Also, the Board authorized the repurchase of $12 billion in common stock from July 1, 2017 through June 30, 2018, plus repurchases to offset shares awarded under equity-based compensation plans during the same period, estimated to be approximately $0.9 billion.
The Federal Reserve Board has informed the company that it completed its 2017 Comprehensive Capital Analysis and Review and that it did not object to Bank of America’s capital plan, including the proposed dividend increase and stock repurchases.
The repurchase program, which covers both common stock and warrants, will be subject to various factors, including the company’s capital position, liquidity, financial performance and alternative uses of capital, stock trading price, and general market conditions, and may be suspended at any time. The common stock or warrant repurchases may be effected through open market purchases or privately negotiated transactions, including Rule 10b5-1 plans.
About Timeless Investor
My name is Samual Lau. I am a long-term value investor and a zealous disciple of Ben Graham. And I am a MBA graduated in May 2010 from Carnegie Mellon University. My concentrations are Finance, Strategy and Marketing.