Bank of America's (NYSE:BAC) modest dividend won't rise with the next payout. The bank has declared a fresh quarterly dividend of $0.01 per share of its common stock, payable on June 28 to shareholders of record as of June 7. That amount matches each of the company's previous distributions stretching back to June 2009.
B of A also declared a dividend on its 7% cumulative redeemable series B preferred stock. That payout will be $1.75 per share, to be dispensed on July 25 to holders of record as of July 11.
The common stock dividend annualizes to $0.04 per share, which yields 0.3% at B of A's current stock price of $12.31.
Fool contributor Eric Volkman has no position in Bank of America. The Motley Fool owns shares of Bank of America. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.