Shareholders in Bank of America (NYSE:BAC) could get very good news over the next few weeks. On March 26, the Federal Reserve is expected to release the results of its 2014 Comprehensive Capital Analysis and Review, which dictates whether the nation's largest banks can increase dividends and share buybacks.

In last year's test, Bank of America decided against seeking permission to up its quarterly payout. It chose instead to increase repurchases of common and preferred stock. At the time, the bank intimated that its earnings stream wasn't consistent enough to warrant a dividend hike.

The story is now different. Bank of America has more than enough capital to fund a higher payout without dipping below the regulatory requirements. In addition, its earnings are much healthier and predictable. It's for these reasons that analysts predict the Charlotte-based lender may have asked to double or quadruple its dividend this year.

John Maxfield owns shares of Bank of America. The Motley Fool recommends and 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.