BofA plans 8% dividend hike to $0.26/sh in Q3 2024; CCAR sets SCB at 3.2%

BANK OF AMERICA CORP /DE/

Quarterly common dividend to rise to $0.26/share from $0.24, subject to board approval.
2024 CCAR results: stress capital buffer set at 3.2%, CET1 minimum requirement at 10.7%.
New SCB effective October 1, 2024 through September 30, 2025.
At March 31, 2024, CET1 capital was $197B (ratio 11.9%), exceeding current minimum of 10.0%.
Dividend increase reflects strong capital position after Federal Reserve stress test.

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