BANK OF AMERICA

Investor Relations

Bank of America Increases Quarterly Common Stock Dividend 50 Percent

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Wednesday, July 27, 2016

Bank of America Corporation today announced the Board of Directors increased the quarterly cash dividend on Bank of America common stock by 50 percent to $0.075 per share, payable September 23 to shareholders of record as of September 2.

"Today's dividend increase, coupled with our plan to repurchase $5 billion in common stock over the next four quarters, reflects our strategy of delivering all of our capabilities to our customers and clients and driving long-term value for our shareholders through responsible growth," said Chief Executive Officer Brian Moynihan.

The board also declared a regular quarterly cash dividend of $1.75 per share on the 7 percent Cumulative Redeemable Preferred Stock, Series B. The dividend is payable October 25 to shareholders of record as of October 11.

Bank of America
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 47 million consumer and small business relationships with approximately 4,700 retail financial centers, approximately 16,000 ATMs, and award-winning online banking with approximately 33 million active accounts and more than 20 million mobile active users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in all 50 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

Visit the Bank of America newsroom for more Bank of America news.

Investors May Contact:
Lee McEntire, Bank of America, 1.980.388.6780
Jonathan Blum, Bank of America (Fixed Income), 1.212.449.3112

Reporters May Contact:
Jerry Dubrowski, Bank of America, 1.980.388.2840
jerome.f.dubrowski@bankofamerica.com