Dividend Increase Announcement
On July 26th,Bank of America announced a dividend increase of 25%. This will increase their dividend per quarter from $0.12 to $0.15. It is payable on September 28 for shareholders of record on September 7th. The new quarterly dividend represents an annualized dividend amount of $0.60 per share as compared to the current annualized dividend amount of $0.48 per share.
Target Dividend Information
Annual Dividend: $0.60
Dividend Yield: 1.94%
Payout Ratio: 23.7%
Dividend Growth History: 4 years
Dividend Increase Effect On More Dividends
I am currently holding 69.593 shares of Bank of America. With this 25% increase it will add $8.36 to my Projected Annual Dividend Income.
Bank of America is one of my largest holdings. So whenever I get an increase it really makes an impact. Bank of America is a great company that I have been owning for years. Since I first started the position the share price has been trending upward. My only regret is that I didn’t buy more when it was so cheap. I will continue to hold this stock forever and hopefully receive increasing dividends over that same amount of time.
Regardless of how large or small, I love all dividend increases. That is how we end up with More Dividends 😉
Do you currently hold any stock in Bank of America? What do you think of this dividend increase? Just let me know in the comments.
As always I look forward to reading all of your comments and questions, until then….. happy investing!
-Jason from MoreDividends.com
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