April 30, 2014

Bank Watch roundup: Bank of America may preserve dividend

The Charlotte bank has to cut its return to shareholders somewhere after miscalculating its capital levels. Bank of America had permission to raise its dividend to 5 cents per share from the penny it had been at since 2009, as well as buy back $4 billion in stock. Bloomberg reports the bank is considering scrapping the buy-back entirely in order to keep the dividend increase.

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