How large is Bank of America's new share repurchase authorization?

The Board authorized a new $40 billion common stock repurchase program, effective August 1, 2025. It replaces the existing program, which had about $9.1 billion remaining as of June 30, 2025, so the new authorization significantly expands buyback capacity. An authorization is a ceiling, not a commitment to repurchase that full amount.

Is the common stock dividend increasing?

Yes. The quarterly common dividend rises to $0.28 per share, up $0.02 or roughly 8% from the prior quarter. It is payable September 26, 2025 to shareholders of record as of September 5, 2025.

Could buybacks or dividends be reduced in the future?

Yes. The company states that repurchases depend on its capital position, liquidity, financial performance, stock price, regulatory requirements, and market conditions, and may be suspended at any time. Bank of America also notes that its ability to make capital distributions depends on staying above minimum regulatory capital requirements.

Does this announcement change Bank of America's financial results or outlook?

The filing does not report new earnings, revenue, or capital ratios. It is a capital-return announcement that signals management's intent to return excess capital, and investors should evaluate it alongside the company's periodic earnings and regulatory capital disclosures.

BANK OF AMERICA CORP /DE/ 8-K SEC Disclosure

01—Abstract

Summary

Summary of the 8-K filed July 23, 2025. Cited figures are marked; the original filing is the authoritative source.

Bank of America Corporation (NYSE: BAC) disclosed in an 8-K filed July 23, 2025 that its Board authorized a new $40 billion^a common stock repurchase program, effective August 1, 2025, replacing the current program that expires on that date.

As of June 30, 2025, the existing program had approximately $9.1 billion^b of repurchases remaining, so the new authorization substantially expands the capacity for buybacks going forward. The filing is a routine capital-return announcement rather than a change in operations or financial results, and the release does not provide new earnings, revenue, or capital ratio figures. On the dividend side, the Board declared a regular quarterly common stock dividend of $0.28 per share, an increase of $0.02 (about 8%) from the prior quarter.

The common dividend is payable September 26, 2025 to holders of record as of September 5, 2025. The Board also declared a quarterly dividend of $1.75^c per share on the 7% Cumulative Redeemable Preferred Stock, Series B, payable October 24, 2025 to holders of record as of October 10, 2025.

The company explicitly ties its capital returns to maintaining regulatory capital above minimum requirements, and notes that repurchases can be suspended at any time and depend on capital position, liquidity, financial performance, stock price, regulatory requirements, and market conditions. Investors should view the announcement as a signal of confidence in capital generation and a commitment to returning excess capital, while recognizing that actual buyback pace and dividend levels remain subject to regulatory and business conditions.

02—Key points

Key Highlights

New $40 billion common stock repurchase program authorized, effective August 1, 2025, replacing the program expiring on that date
Approximately $9.1 billion remained under the current repurchase program as of June 30, 2025
Quarterly common stock dividend raised 8% to $0.28 per share, up from $0.26 (an increase of $0.02)
Common dividend payable September 26, 2025 to shareholders of record as of September 5, 2025
7% Cumulative Redeemable Preferred Stock, Series B quarterly dividend of $1.75 per share declared, payable October 24, 2025 to holders of record as of October 10, 2025
Repurchases remain subject to capital position, regulatory requirements, market conditions, and may be suspended at any time
Filing is a routine capital-return disclosure; no new financial results or operating metrics were reported

03—Questions

Frequently Asked Questions

How large is Bank of America's new share repurchase authorization?
The Board authorized a new $40 billion common stock repurchase program, effective August 1, 2025. It replaces the existing program, which had about $9.1 billion remaining as of June 30, 2025, so the new authorization significantly expands buyback capacity. An authorization is a ceiling, not a commitment to repurchase that full amount.
Is the common stock dividend increasing?
Yes. The quarterly common dividend rises to $0.28 per share, up $0.02 or roughly 8% from the prior quarter. It is payable September 26, 2025 to shareholders of record as of September 5, 2025.
What dividend is being paid on the preferred stock?
The Board declared a regular quarterly dividend of $1.75 per share on the 7% Cumulative Redeemable Preferred Stock, Series B. It is payable October 24, 2025 to holders of record as of October 10, 2025.
Could buybacks or dividends be reduced in the future?
Yes. The company states that repurchases depend on its capital position, liquidity, financial performance, stock price, regulatory requirements, and market conditions, and may be suspended at any time. Bank of America also notes that its ability to make capital distributions depends on staying above minimum regulatory capital requirements.
Does this announcement change Bank of America's financial results or outlook?
The filing does not report new earnings, revenue, or capital ratios. It is a capital-return announcement that signals management's intent to return excess capital, and investors should evaluate it alongside the company's periodic earnings and regulatory capital disclosures.

04—Continue

← View all 8-K filings