Business Services Industry
Bank of America to split common stock, boost dividend.
Knight Ridder/Tribune Business News, June, 2004
The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Jun. 24--Bank of America Corp., which acquired the parent of Fleet Bank in April, said Wednesday it will split its common shares 2-for-1 and boost its quarterly cash dividend by 12.5 percent.
The cash dividend on a share of common stock will rise to 90 cents a share, up from 80 cents. The increase will be effective Sept. 24 for shareholders of record as of Sept. 3.
After the stock split, the cash dividend will be 45 cents a share, reflecting the split. The stock split is effective Aug. 27 for shareholders of record as of Aug. 6.
Charlotte, N.C.-based Bank of America said it split its shares to make Bank of America shares more affordable to smaller investors. A...
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