Bank of America Declares Dividends, Redeems Series DD Preferred, Commits to Newborn Account Matching

BofA moves to return capital while trimming legacy preferred position

Bank of America’s board declares its regular common and preferred dividends and moves to redeem a legacy preferred issue, underscoring an active capital‑management stance that it ties to supporting lending and operations. The board declares a quarterly cash dividend of $0.28 per common share payable March 27, 2026 to shareholders of record on March 6, 2026, and a quarterly cash dividend of $1.75 per share on its 7% Cumulative Redeemable Preferred Stock, Series B, payable April 24, 2026 to holders of record April 10, 2026. The bank says these actions reflect ongoing capital allocation priorities and a commitment to return capital to shareholders while maintaining financial strength for lending, investment and operational needs.

Separately, Bank of America announces it will redeem all outstanding shares of its Fixed‑to‑Floating Rate Non‑Cumulative Preferred Stock, Series DD, and the associated depositary shares, with redemption of depositary shares set for the upcoming dividend date, March 10, 2026. Depositary shares — each representing a 1/25th interest in a preferred share — are redeemed at $1,000 per depositary share, and a declared semi‑annual dividend of $31.50 per depositary share for the period from Sept. 10, 2025 to but excluding March 10, 2026 is payable on March 10 to holders of record on Feb. 15, 2026. The $1,000 redemption price excludes accrued and unpaid dividends, and dividend accruals cease on the redemption date.

The redemption process follows Depository Trust Company procedures and will be administered by Computershare Inc. and Computershare Trust Company NA as redemption agent. Bank of America notes the press release does not constitute formal notice of redemption under the governing certificate of designation or the deposit agreement. The moves come as the bank emphasizes convenience, scale and innovation across its franchise — nearly 70 million clients, roughly 3,600 branches, about 15,000 ATMs and some 59 million verified digital users — while balancing capital returns with regulatory and operational priorities.

Bank of America joins peers in newborn account matching pledge

Banks including Bank of America and JPMorgan Chase are committing to match the federal government’s $1,000 seed contribution to newly created tax‑advantaged children’s accounts under the One Big Beautiful Bill Act. The matches are framed as part of broader employee and community financial‑capability initiatives aimed at long‑term savings for newborns born in the eligible 2025–2028 window.

BofA flags select earnings winners in research notes

Separately, Bank of America’s analysts identify five companies with further upside after recent earnings — Boot Barn, Equity LifeStyle Properties, CACI International, Teledyne Technologies and Cullen/Frost Bankers — citing margin expansion, resilient demand dynamics and cash‑generation that support their convictions.