CHARLOTTE, N.C., Jan. 27 /PRNewswire/ -- Bank of America Corporation today announced the Board of Directors declared a regular quarterly cash dividend on Bank of America common stock of $0.01 per share, payable on March 26, 2010 to shareholders of record as of March 5, 2010.
The board also declared a regular quarterly cash dividend of $1.75 per share on the 7 percent Cumulative Redeemable Preferred Stock, Series B. The dividend is payable on April 23, 2010 to shareholders of record as of April 9, 2010.
In addition, the board declared an initial quarterly cash dividend on the Common Equivalent Junior Preferred Stock, Series S. To the extent that shares of the Series S Preferred Stock are outstanding on March 5, 2010, the initial quarterly cash dividend will be payable on March 26, 2010 to shareholders of record as of March 5, 2010. The cash dividend on each of these shares will be payable in an amount equal to $0.01 multiplied by the number of shares of common stock into which a share of the Series S Preferred Stock is convertible on March 5, 2010. The current conversion rate is 1,000 shares of common stock for each share of Series S Preferred Stock.
Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 59 million consumer and small business relationships with 6,000 retail banking offices, more than 18,000 ATMs and award-winning online banking with nearly 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
SOURCE Bank of America