25% Dividend Increase from Bank of America ( BAC )

bankofamerica

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.

Conclusion

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





Be sure and follow me on your favorite social media platform:
MoreDividendsdotcom on Facebook
@MoreDividends on Twitter

If you would like to receive an email whenever I publish a new article:

Loading

Comments
  1. dividendgeek | Reply
    • More Dividends | Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

CommentLuv badge