Capital Plan approved, Bank of America Raises Dividend
Posted on | August 6, 2014 | No Comments
Bank of America shareholders received excellent news this morning: Bank of America’s revised capital plan that was submitted to the US Federal Reserve has been approved. Accordingly, Bank of America will raise the quarterly dividend to 5 cents a share. This is the first dividend increase in the last 7 years. Bank of America has been working on resolving lawsuits spurred by their purchase of Countrywide at the height of the financial crisis. As they continue to resolve the legacy issues I hope they’ll continue to raise their dividend. I’m excited for the additional meager income I’ll be receiving from my investment in BAC.
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