Bank of America Corp. said on Wednesday that it plans to hike its quarterly common stock dividend from $0.22 to $0.24 per share starting from the third quarter of this year.
Previously, the company stated on July 3 that it had entered into a dialogue with the Federal Reserve to comprehend better the differences between the Fed's CCAR scores and the results of Bank of America's Dodd-Frank Act stress test results. "Those discussions are ongoing," the bank added.
The quarterly common stock dividend increase is contingent upon the approval of the Company's Board of Directors.
