Bank of America Corp's 7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L About To Put More Money In Your Pocket

On 3/30/23, Bank of America Corp's 7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L (Symbol: BAC.PRL) will trade ex-dividend, for its quarterly dividend of $18.125, payable on 5/1/23. As a percentage of BAC.PRL's recent share price of $1149.00, this dividend works out to approximately 1.58%, so look for shares of BAC.PRL to trade 1.58% lower — all else being equal — when BAC.PRL shares open for trading on 3/30/23. On an annualized basis, the current yield is approximately 6.30%, which compares to an average yield of 6.63% in the "Financial" preferred stock category, according to Preferred Stock Channel. The chart below shows the one year performance of BAC.PRL shares, versus BAC:

Below is a dividend history chart for BAC.PRL, showing historical dividends prior to the most recent $18.125 on Bank of America Corp's 7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L:

In Tuesday trading, Bank of America Corp's 7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L (Symbol: BAC.PRL) is currently down about 0.2% on the day, while the common shares (Symbol: BAC) are down about 1%.

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