- Tools for Investors
- Stock News
- Investing Ideas
- Econ & Policy
- Personal Finance
Bank of America Corporation (NYSE:BAC): Current price $12.58
Bank of America announced it will buy back as much as $5 billion in common stock and redeem around $5.5 billion in preferred stock, subsequent to winning Federal Reserve approval on Thursday for its capital plan. However, the Charlotte bank said that its quarterly dividend will remain at 1 cent, at which level it has been since the aftermath of the financial crisis. The Fed decision permits Bank of America to return capital to shareholders, and was part of a wider examination of the capital plans of 18 of the nation’s biggest banks. The Fed approved the plans of 14 of them, including Wells Fargo & Co. (NYSE:WFC).
Don't miss one of the biggest bull markets in history! Covers Gold, Silver, Gold & Silver stocks, and miners.
There's always a bull market in some sector! Find the best opportunities in commodities.