Bank of America's Preferred Stock, Series L About To Put More Money In Your Pocket

Bank of America’s 7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L (BAC.PRL) will trade ex-dividend on 7/1/26 for a quarterly dividend of $18.125, payable on 7/30/26. Based on the recent share price of $1,260.35, the dividend implies a yield of roughly 1.4% for the quarter. The announcement is routine and primarily relevant to preferred income investors.

Analysis

Bank of America’s 7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L (BAC.PRL) will trade ex-dividend on 7/1/26 for a quarterly dividend of $18.125, payable on 7/30/26. Based on the recent share price of $1,260.35, the dividend implies a yield of roughly 1.4% for the quarter. The announcement is routine and primarily relevant to preferred income investors.