Bank of America Just Raised Its Dividend 14%. The Buyback Is the Bigger Story.
It's the last of the Big Four banks to declare a dividend raise this earnings season.
Overview
A typical dividend raise from a blue chip stock usually isn’t very major, with most coming in the low single-digit range. That sure wasn’t the case with Bank of America (NYSE:BAC) on Friday, as the big lender cranked its quarterly payout 14% higher.
That’s actually more or less in line with the dividend raises of other major banks. But what sets this one apart is that the generous bump is paired with another shareholder-pleasing program that’s unusually robust.
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Originally published at www.fool.com.
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