Banking giant Bank of America (NYSE:BAC) announced yesterday its second-quarter dividend on its Series L 7.25% non-cumulative perpetual convertible preferred stock of $18.125 per share. The preferred shares trade on the NYSE under the symbol BAC-PL.
The board of directors said the quarterly dividend is payable on July 30 to the holders of record at the close of business on July 1.
The bank also pays a regular dividend payment of $0.01 per share per quarter equating to a $0.04-per-share annual dividend, yielding 0.3% based on the closing price of Bank of America's stock on June 17.
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