Bank of America: dividend up and share buyback.

(CercleFinance.com) - On Wednesday evening Bank of America said it plans to increase its quarterly dividend by 60% to 12 cents per share and to buy back 12 billion dollars of its common stock from 1 July 2017 to 30 June 2018.


Its Board of Directors has also authorised share repurchases to offset the securities that will be awarded under equity compensation plans over the same period, estimated at 0.9 billion dollars.

The bank from Charlotte, North Carolina, says that the Fed has completed its 2017 Comprehensive Capital Analysis and Review (CCAR) without raising any objections to its capital plan, which included these measures for pay-out to shareholders.


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