Banking, finance, and taxes
Bank of America Jams on Buyback and Dividend (BAC)
Published:
Last Updated:
Bank of America Corporation (NYSE: BAC) just made key announcements regarding the dividend and the share buyback plans. It has just announced that it declared a regular quarterly dividend on common stock of $0.64 per share. So Ken Lewis meant what he said by announcing that he didn’t see the need to cut the dividend.
Perhaps even more important is thee size of its new buyback plan for common stock. The financial giant has authorized a new buyback plan of up to 75 million shares of its common stock, which takes the plan up to $3.75 billion which is good for the next 12 to 18 months. This new buyback plan replaces the expiring January 2007 repurchase authorization of 200 million shares.
Jon C. Ogg
July 23, 2008
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
