Wednesday, January 23, 2013

No dividend increase at Bank of America

Sorry Bank of America shareholders: No dividend increase for you. At least not right now.

A day after Wells Fargo and BB&T announced dividend increases, Bank of America declared a dividend of 1 cent per share -- the same it's been since 2008.

Bank of America did not say whether this dividend -- payable March 22 to stockholders of record on the first of that month -- was part of last year's capital plan, as its two peers did Tuesday.

The good news? With capital levels rising, analysts are predicting a dividend increase as part of Bank of America's capital plan for 2013. CEO Brian Moynihan was pretty mum on the subject during the bank's earnings presentation last week, saying the company wants to return capital to shareholders but offering no detail on what the bank asked regulators for this year.

The plans for 2013 were due to the Federal Reserve on Jan. 7.

2 comments:

Anonymous said...

This was already reported today at 07:41 AM by a blogger in regards to your Wells Fargo post.

Go to see however that you went the extra mile in reporting when THIS dividend is payable. Shows you're learning.

Andrew Dunn said...

Thank you for reading and for taking the time to comment, Anonymous 2:49. That's not quite correct, though. This dividend was declared at midday.