BAC

Bank of America Corporation

31.73
USD
-2.37%
31.73
USD
-2.37%
29.67 50.11
52 weeks
52 weeks

Mkt Cap 261.50B

Shares Out 8.24B

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Bank of America's Preferred Stock, Series 2 Shares Cross 4% Yield Mark

In trading on Tuesday, shares of Bank of America Corp's Floating Rate Non-Cumulative Preferred Stock, Series 2 (Symbol: BML.PRH) were yielding above the 4% mark based on its quarterly dividend (annualized to $0.7667), with shares changing hands as low as $19.11 on the day. This compares to an average yield of 5.58% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, BML.PRH was trading at a 21.20% discount to its liquidation preference amount, versus the average discount of 3.24% in the "Financial" category. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend. Below is a dividend history chart for BML.PRH, showing historical dividend payments on Bank of America Corp's Floating Rate Non-Cumulative Preferred Stock, Series 2: Free Report: Top 7%+ Dividends (paid monthly) In Tuesday trading, Bank of America Corp's Floating Rate Non-Cumulative Preferred Stock, Series 2 (Symbol: BML.PRH) is currently off about 1.3% on the day, while the common shares (Symbol: BAC) are up about 0.7%. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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