Bank of America Announces Quarterly Dividend for Series LL Preferred Stock

Bank of America Corporation has confirmed a quarterly cash dividend for its 5.000% Non-Cumulative Preferred Stock, Series LL (BAC.PRN). Shareholders of record will receive a payment of $0.3125 per share, scheduled for distribution on June 17, 2026. Investors should note that the stock is set to trade ex-dividend on June 1, 2026, a date that typically triggers a price adjustment reflecting the payout amount.

At the current market price of $20.31, this dividend represents a quarterly yield of approximately 1.54%. On an annualized basis, the Series LL preferred shares offer a yield of roughly 6.19%. While this provides a steady income stream for fixed-income investors, it remains slightly below the 6.66% average yield observed within the broader financial sector's preferred stock category, according to data from the Preferred Stock Channel.

For investors, this announcement highlights the role of preferred securities as a stable, income-generating component of a diversified portfolio. Because preferred stock dividends are non-cumulative, they offer a specific risk-reward profile distinct from common equity. As Bank of America remains a significant holding in major financial ETFs, such as the First Trust Nasdaq Bank ETF (FTXO), monitoring these dividend distributions is essential for those tracking the bank's capital allocation and the overall performance of its fixed-income instruments.