Bank of America Corporation (NYSE:BAC) shares are trading higher today after the company authorized share buybacks.
The Board authorized a $25 billion stock repurchase program starting August 1, 2024, replacing the existing program set to expire on that date.
As of June 30, 2024, the current program had $6.7 billion in repurchases left.
As announced earlier, the bank had raised the quarterly cash dividend to $0.26 per share, up $0.02 from the previous quarter. The dividend will be paid on September 27 to shareholders of record as of September 6.
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The company’s Board also declared a regular quarterly cash