bank of america dividend payout date

BAC Next Dividend Date Projection. Last known ex-date: 12/02/21. Last known frequency: Quarterly Last known quarterly dividend: 0.21. A high-level overview of Bank of America Corporation (BAC) stock. Stay up to date on the latest stock price, chart, news, analysis, fundamentals. Bank of America Corp (NYSE:BAC) Dividend History. Bank of America CorpBAC 2021 Dividends. Decl Date, Ex Date, Rec Date, Pay Date, Type, AmountAmt $.

Bank of america dividend payout date -

British American Tobacco - Quarterly dividend payments

On 17 February 2021, the Company announced that the Board had declared an interim dividend of 215.6p per ordinary share of 25p, for the year ended 31 December 2020, payable in four equal quarterly instalments of 53.9p per ordinary share in May 2021, August 2021, November 2021 and February 2022.

The quarterly dividends are paid to shareholders registered on either the UK main register or the South Africa branch register and to holders of American Depositary Shares (ADSs), each on the applicable record dates set out under the heading ‘Key Dates’ below.

South Africa Branch Register

In accordance with the JSE Limited (JSE) Listing Requirements, the finalisation information relating to shareholders registered on the South Africa branch register (comprising the amount of the dividend in South African rand, the exchange rate and the associated conversion date) will be published on the dates stated below, together with South Africa dividends tax information.

The quarterly dividends are regarded as ‘foreign dividends’ for the purposes of the South Africa Dividends Tax. For the purposes of South Africa Dividends Tax reporting, the source of income for the payment of the quarterly dividends is the United Kingdom.

Holders of ADSs

For holders of ADSs listed on the New York Stock Exchange (NYSE), the record dates and payment dates are set out below. The equivalent quarterly dividends receivable by holders of ADSs in US dollars will be calculated based on the exchange rate on the applicable payment date. A fee of US$0.005 per ADS will be charged by Citibank, N.A. in its capacity as depositary bank for the British American Tobacco American Depositary Receipt (“ADR”) programme in respect of each quarterly dividend payment.

Key dates

2022

2021

2020

2019

Event Payment
Number 1
Payment
Number 2
Payment
Number 3
Payment
Number 4
ADS payment date (NYSE) 13 May 13 August 19 November 11 February 2020
Payment date (JSE) 09 May 08 August 14 November 06 February 2020
Payment date (LSE) 08 May 08 August 14 November 06 February 2020
Last date for receipt of Dividend Reinvestment Plan (DRIP) elections (LSE) 12 April 18 July 24 October 16 January 2020
Record date
(JSE, LSE and NYSE)
22 March 28 June 04 October 27 December
Shares commence trading ex-dividend NYSE 21 March 27 June 03 October 26 December
Shares commence trading ex-dividend LSE 21 March 27 June 03 October 24 December
No shares may be dematerialised or rematerialised on the South Africa branch register 19 March to 22 March (inclusive) 26 June to 28 June (inclusive) 2 October to 4 October (inclusive) 23 December to 27 December (inclusive)
No transfers permitted between the UK main register and the South Africa branch register 19 March to 22 March (inclusive) 26 June to 28 June (inclusive) 2 October to 4 October (inclusive) 23 December to 27 December (inclusive)
Shares commence trading ex-dividend (JSE) 19 March 26 June 02 October 23 December
Last Day to Trade (LDT) cum dividend (JSE) 18 March 25 June 1 October 20 December
No removal requests (in either direction) permitted between the UK main register and the South Africa branch register 11 March to 22 March (inclusive) 18 June to 28 June (inclusive) 23 September to 4 October (inclusive) 12 December to 27 December (inclusive)
Publication of finalisation information (JSE) *11 March *18 June *23 September *12 December
Preliminary announcement (includes declaration data required for JSE purposes) 28 February

*South Africa Branch Register Finalisation Information, Payment No. 1 - May 2019 (100 kb) 

*South Africa Branch Register Finalisation Information, Payment No. 2 - August 2019 (98 kb) 

*South Africa Branch Register Finalisation Information, Payment No. 3 - November 2019 (178 kb) 

*South Africa Branch Register Finalisation Information, Payment No. 4 - February 2020 (122 kb) 

Event Payment
Number 1
Payment
Number 2
Payment
Number 3
Payment
Number 4
ADS payment date (NYSE) 17 May 24 August 16 November 14 February 2022
Payment date (LSE and JSE) 12 May 19 August 11 November 9 February 2022
Last date for receipt of Dividend Reinvestment Plan (DRIP) elections (LSE) 20 April 29 July 21 October 19 January 2022
Record date (JSE, LSE and NYSE) 26 March 9 July 1 October 24 December
Ex-dividend date (LSE and NYSE) 25 March 8 July 30 September 23 December
No shares may be dematerialised or rematerialised on the South Africa branch register 24 March to 26 March (inclusive) 7 July to 9 July (inclusive) 29 September to 1 October 22 December to 24 December
No transfers permitted between the UK main register and the South Africa branch register 24 March to 26 March (inclusive) 7 July to 9 July (inclusive) 29 September to 1 October 22 December to 24 December
Ex-dividend date (JSE) 24 March 2021 7 July 29 September 22 December
Last day to trade (JSE) 23 March 2021 6 July 28 September 21 December
No removal requests permitted between the UK main register and the South Africa branch register 15 March to 26 March (inclusive) 29 June to 9 July (inclusive) 20 September to 1 October (inclusive) 13 December to 24 December (inclusive)
Publication of finalisation information (JSE) *15 March *29 June *20 September 13 December
Preliminary announcement (includes declaration data required for JSE purposes) 17 February

*South Africa Branch Register Finalisation Information, Payment No. 1 - May 2021 (122 kb) 

*South Africa Branch Register Finalisation Information, Payment No. 2 - August 2021 (123 kb) 

*South Africa Branch Register Finalisation Information, Payment No. 3 - November 2021 (123 kb) 

Event Payment
Number 1
Payment
Number 2
Payment
Number 3
Payment
Number 4
ADS payment date (NYSE) 9 May 22 August 15 November 6 February 2023
Payment date (LSE and JSE) 4 May 17 August 10 November 2 February 2023
Record date (JSE, LSE and NYSE) 25 March 8 July 30 September 23 December
Ex-dividend date (LSE and NYSE) 24 March 7 July 29 September 22 December
Ex-dividend date (JSE) 23 March 6 July 28 September 21 December
Last day to trade (JSE) 22 March 5 July 27 September 20 December
Источник: https://www.bat.com/group/sites/UK__9D9KCY.nsf/vwPagesWebLive/DOALSC3V

Dividend

How is the dividend paid?

  • For intermediary registered and bearer shares, Air Liquide pays the gross dividend to your financial institution, which will then credit your account with the net dividend net of withholding taxes
  • For direct registered shares, the dividend, net of withholding taxes, is paid by Air Liquide directly into your bank account

Your bank account will be credited in the following days, depending on the processing time needed by your financial institution.

Direct registered shareholders: if you have changed bank details, please update them from your personal Account, “My profile” section. You can also send it via our contact form  “Updating my personal details” accompanied by an identity document.

An additional 10% in dividends

If you hold your registered shares for more than two full calendar years, the loyalty bonus gives you the right to a 10% increase in the dividend.

2021 dividend calendar

  • May 14: Last execution day for buy orders for shares to be eligible for the 2019 dividend
  • May 17: Ex-dividend date, the opening price on this day will be reduced by the amount of the dividend
  • May 19: Dividend payment date

Taxation

Taxation of dividend in France for those residing outside france for tax purposes (for French tax residents): a statutory rate equal to at least 12.8% is withheld upon dividend payment by your account manager (Shareholder Services for direct registered Air Liquide shares, your financial institution for intermediary registered or bearer Air Liquide shares).

However, in most cases, a tax agreement (treaty between two countries aimed at avoiding the double-taxation of non-residents) is signed between France and your country of residence. The main aim of this agreement is to set a flat tax rate which is withheld from your dividends. To benefit from this rate, you must send Form 5,000  - also known as Cerfa n°12816*01-02 - (corresponding to the request to apply the rate adopted in the agreement), completed and signed by the tax authorities of your place of residence, to your account manager by mid-April. This Cerfa form can be downloaded from impots.gouv.fr. It must be resent to your account manager each year, otherwise the statutory rate will be applied upon payment of the dividend.

Источник: https://www.airliquide.com/shareholders/dividend

Dividends

Investing in securities involves risks, and there is always the potential of losing money when you invest in securities.

This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation, offer or solicitation for the purchase or sale of any security, financial instrument, or strategy. Before acting on any information in this material, you should consider whether it is suitable for your particular circumstances and, if necessary, seek professional advice. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue.

Content contained herein may have been produced by an outside party that is not affiliated with Bank of America or any of its affiliates (Bank of America). Opinions or ideas expressed are not necessarily those of Bank of America nor do they reflect their views or endorsement. These materials are for informational purposes only. Bank of America does not assume liability for any loss or damage resulting from anyone's reliance on the information provided. Certain links may direct you away from Bank of America to an unaffiliated site. Bank of America has not been involved in the preparation of the content supplied at the unaffiliated sites and does not guarantee or assume any responsibility for its content. When you visit these sites, you are agreeing to all of their terms of use, including their privacy and security policies.

Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S” or “Merrill”) makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation (“BofA Corp.”). MLPF&S is a registered broker-dealer, registered investment adviser, Member SIPC and a wholly owned subsidiary of BofA Corp.

Trust and fiduciary services are provided by Bank of America Private Bank, a division of Bank of America, N.A., Member FDIC, and a wholly-owned subsidiary of Bank of America Corporation (“BofA Corp.”). Insurance and annuity products are offered through Merrill Lynch Life Agency Inc. (“MLLA”), a licensed insurance agency and wholly-owned subsidiary of BofA Corp.

Investment products offered through MLPF&S and insurance and annuity products offered through MLLA:

Are Not FDIC InsuredAre Not Bank GuaranteedMay Lose Value
Are Not DepositsAre Not Insured by Any Governmental AgencyAre Not a Condition to Any Banking Service or Activity



"Bank of America" is the marketing name for the global banking and global markets business of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, BofA Securities, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Merrill Lynch Professional Clearing Corp., all of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. BofA Securities, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA.

Company goals are aspirational and not guarantees or promises that all goals will be met. Statistics and metrics included in our ESG documents are estimates and may be based on assumptions or developing standards.

Источник: https://investor.bankofamerica.com

Dividend diary

There are a number of reasons that your dividend may not have reinvested:

1) Did you select ‘Re-invest’ as your ‘Dividend Handling Option' at least 24 hours before the dividend payment date?

2) Was the dividend over £1.00 in value, and does the dividend total enough to purchase at least 1 share on the stock market?

3) Do you still have the stock in your share dealing account that the dividend was paid on? (No reinvestment can take place if you don’t have a holding.)

4) Is the stock eligible for reinvestment? Examples of stocks not eligible for reinvestment include foreign stocks and stocks that require a set investment amount such as bonds and gilts.

5) If the stock is being held in an ISA, is this ISA active?

6) Do you have any outstanding charges on your share dealing account?

7) Have you passed all relevant ID and money laundering checks?

If none of the above apply to you then please call us on 03457 22 55 25.

Источник: https://www.halifax.co.uk/investing/help-and-guidance/existing-customer/dividends-diary.html

This article was originally published on Simply Wall St News .

Bank of America just delivered a slight miss on the earnings at US$21.6b, below the US$21.8b estimates. The bank blamed it on low interest rates that are influencing the whole financial sector. Meanwhile, earning-per-share (EPS) came in at US$0.80, outperforming the expectations of US$0.77.

Still, CEO Brian Moynihan remains optimistic, pointing out the increase in loans for the first time since early 2020. While the price fell on the news, it stopped at $38, rebounding for the second time since April. In the short term, this price remains the support - meaning that investors keep adding to their long positions there.

The Dividend

Starting in Q3 2021, Bank of America Corporation ( NYSE: BAC ) will increase its quarterly common stock dividend to US$0.21 per share. This represents a 17% increase from the current levels, and it was announced following the latest successful stress test that the bank passed on June 24 .

Dividend-paying companies with growing earnings can be advantageous in the long term. A 1.9% yield is nothing to get excited about, but given its successful dividend payout history and the announced hike - dividend reinvestment over the long-run has its appeal.

The company also bought back stock equivalent to around 1.3% of market capitalization this year. Some simple analysis can offer a lot of insight when buying a company for its dividend, and we'll go through this below.

Click the interactive chart for our full dividend analysis

NYSE: BAC Historic Dividend July 15th, 2021

Interest Rate Looms on the Horizon

It is no secret that low interest rates hit the financial sector hard. After all, interest rates dictate the large majority of income for financial institutions, as they earn the spread.

With the interest rates at 0, the lowest point in history, bank had to up the non-interest income. However, this was not enough to provide a significant drop in net interest income, as evident from the annual income statement .

Yet, the winds are changing. Facing inflationary pressures, the FED is now bringing back interest rates hikes on the table. In March, they mentioned 2024, but now the timeline has already been moved to 2023 . As the FED keeps on moving the schedule, expect the banking business to significantly pick up if rate hikes look to be on the horizon as some clients will likely rush in to refinance their loans with low-interest rates (if they haven’t already).

Dividend Volatility and Payout Ratio

Dividends are usually paid out of company earnings. If a company is paying more than it earns, then the dividend might become unsustainable. In the last year, Bank of America paid out 31% of its profit as dividends.

This range falls into a sweet spot as it leaves enough earnings to re-invest in the company - as long as the management makes sound investments.

Furthermore, while dividend investing always has a risk of the dividend getting cut or completely suspended, Bank of America has a solid track record over the last decade. During the past 10-year period, the first annual payment was US$0.04 in 2011, compared to US$0.7 the previous year. Dividends per share have grown at approximately 34% per year over this time.

It's rare to find a company that has grown its dividends rapidly over 10 years and not had any notable cuts, but Bank of America has done it.

Consider getting our latest analysis on Bank of America's financial position here.

Dividend Growth Potential

Dividend payments have been consistent over the past few years, but we should always check if earnings per share (EPS) are growing, as this will help maintain the purchasing power of the dividend.

Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see Bank of America has grown its earnings per share at 11% per annum over the past five years. Earnings per share have been growing at a reasonable rate, even in the low interest rate environment, and the company is paying less than half its earnings as dividends. We generally think this is an attractive combination, as it permits further reinvestment in the business.

Conclusion

Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing.

With the Bank of America fitting these criteria well, it is not surprising that it attracted interest from institutions. Warren Buffet added a hefty stake of US$2b a year ago with an average price of US$24.5. In total, Buffett owns 12% of the bank. This means that after the upcoming dividend hike, Berkshire Hathaway ( NYSE: BRK.A ) will receive over US$ 336m per year in dividends.

Ultimately, Bank of America fits all of our criteria, and we think it's an attractive dividend idea that would warrant further investigation.

It's important to note that companies with a consistent dividend policy will generate greater investor confidence than those with an erratic one. Still, investors need to consider a host of other factors, apart from dividend payments, when analyzing a company. To that end, Bank of America has 2 warning signs(and 1 which is a bit unpleasant) we think you should know about.

Simply Wall St analyst Stjepan Kalinic and Simply Wall St have no position in any of the companies mentioned. This article is general in nature. It does not constitute a recommendation to buy or sell any stock and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

Источник: https://finance.yahoo.com/news/bank-america-nyse-bac-hikes-081454473.html

What makes banks adjust dividend payouts?

Prepared by Marco Belloni, Maciej Grodzicki and Mariusz Jarmuzek

This contribution reviews historical drivers of bank dividend payouts in the euro area. Economic literature presents three main reasons for adjustments to dividend payouts: asymmetric information between shareholders and management, the presence of agency costs, and regulatory constraints. Using a panel data approach, the article finds evidence supporting all three hypotheses. Banks lower dividends after facing a decline in profits and capital, but counterfactual simulations show that this adjustment could be small. Regulatory restrictions may therefore be warranted in the event of large expected losses or heavy uncertainty.

1 Introduction

Various elements of the regulatory and prudential framework are in place to constrain dividend payouts by banks. Banks remunerate their shareholders for the risks of holding bank equity through discretionary and variable dividend payouts, usually set annually by decision of a general meeting of shareholders, acting on a recommendation by the bank’s management. European regulations provide for automatic restrictions on dividend distributions, the so-called maximum distributable amount, which preserves a bank’s capital base by retaining profits when a bank falls below a pre-defined level of capital. Regulators have also introduced further restrictions, related for example to state-aid rules. The European Systemic Risk Board (ESRB) recommended that banks should not pay dividends in 2020 due to the COVID-19 pandemic and also to conserve capital for loss absorption and maintaining loan supply.

2 Data and methodology

Bank dividend payouts have varied in a seemingly procyclical – albeit heterogeneous – way over the business and financial cycle. They reached a high point immediately prior to the global financial crisis and declined in its aftermath (Chart 1) as regulatory requirements were tightened and banks’ profitability fell (Chart 2). However, there has been a high cross-sectional variance in every year for which the data are available, indicating that bank-specific circumstances play a large role in determining payout policies.

Chart 1

Bank dividend payouts fluctuated over time, with large variance across banks

Distribution of dividend payouts by euro area banks over time

(y-axis: dividend payout as a percentage of total after-tax earnings; whiskers: 5th and 95th percentile)

Chart 2

Two offsetting factors have played an important role in determining the evolution of dividend payouts

Distribution of return on assets (RoA) (left-hand panel) and capitalisation by euro area banks over time

(left - y-axis: RoA; right - y-axis: capital over RWA; whiskers: 5th and 95th percentile)

Economic literature suggests that dividend policies might vary due to asymmetric information, agency costs, and regulation. While the Modigliani-Miller theorem would suggest that, with perfect information and in the absence of tax distortions, dividend policies are irrelevant to the value of the firm, its assumptions may not be a fit to the specific aspects of banks. In particular, there are three main strands of literature analysing dividend policies which apply nicely to banks.[1] First, according to the signalling theory, managers may know more about the true value of their firm than investors. Dividend announcements convey information about future earnings, so more profitable banks may be expected to pay higher dividends.[2] Second, the incomplete contract strand suggests that agency costs, associated with a conflict between stockholders, management, and bondholders over dividend policy would lead larger firms to pay higher dividends,[3] while better investor protection allows investors to reduce agency costs by effectively forcing management to pay out dividends. Finally, the regulatory strand suggests that banks are constrained by regulators in their dividend payout policy, implying that better capitalised banks pay higher dividends.[4]

This article explores these hypotheses in an empirical context of the euro area banking sector, using panel data approaches. We use two complementary unbalanced panels of euro area banks. The sample of listed banks covers 69 banking groups observed over 2005-2019, with data collected from SNL Financial. The second panel covers about 1,400 banks, a large majority of which are unlisted, over a shorter period (2010-2019) and the data was collected from Orbis BankFocus. We adopted a Tobit specification to account for the fact that bank dividend payouts are truncated at zero, and also used a standard panel approach as a robustness check.[5] In order to limit the effect of outliers, and in particular to exclude banks that may be subject to non-disclosed supervisory restrictions on distributions,[6] banks with negative after-tax earnings and capital ratios were excluded.

We aimed to identify the bank-specific characteristics that explain the changes in the bank dividend payout ratio. The dependent variable was defined as a ratio of total dividend payout over total after-tax earnings. Leveraging on the existing literature encompassing the key variables explaining dividend payout, variants of the following equation were estimated in the first stage:

where DP denotes dividend payout in bank i at time t, which is explained by signalling hypothesis variables (SHV), agency hypothesis variables (AHV), regulatory hypothesis variables (RHV), and other variables (OV).

In line with the literature, we used indicators of profitability to validate the signalling hypothesis, and bank size to validate the agency cost hypothesis. We also used a minority shareholder protection indicator, obtained from the World Bank’s Doing Business surveys, as a measure of investor protection that might provide additional evidence for the agency cost hypothesis. Capital ratios were used to seek evidence for the regulatory cost hypothesis.[7] For robustness purposes, we employed both a risk-weighted capital ratio (equity over risk-weighted assets) and a balance-sheet-leverage ratio (equity over total assets) as indicators of capitalisation, and two indicators of profitability (return on assets and return on equity). Finally, we used GDP growth and time-fixed effects to control for changes in the macroeconomic and financial environment. All dependent variables were lagged by one year to mitigate potential endogeneity associated with simultaneity and to account for the fact that bank dividend payouts are determined by shareholder meetings early in the financial year, based on financial information available for the previous year.

3 Results

Empirical results suggest that bank dividend payouts are related to capitalisation, profitability, size and institutional framework, supporting all three hypotheses presented in the literature (see Table 1). In line with the regulatory hypothesis, better capitalised banks tend to pay out a larger share of their profits to shareholders, although the immediate effect of an increase in the capital ratio was estimated to be relatively moderate. An increase in the capital ratio by 1 percentage point translates into the payout ratio increasing by between less than 0.2 and almost 1 percentage points, with a stronger effect for listed banks. Similarly, the results are aligned with the signalling hypothesis, as more profitable banks tend to pay out higher dividends, again with a stronger relationship identified for listed banks. The posited influence of agency costs on payout ratio is also supported by the findings, as banks operating in countries where investors are better protected by law and larger banks tend to pay higher dividends. The sensitivity of payouts to the level of institutional protections is stronger for unlisted banks, tentatively pointing to a beneficial effect of the transparency associated with listed banks on agency costs. Furthermore, higher credit risk is associated with smaller pay-outs, which may suggest that banks retain earnings to shore up their balance sheets against future credit losses. Finally, dividend policies seem relatively stable over time, particularly for listed banks. However, there is no significant relationship between the economic cycle and dividend policies.[8]

Table 1

Bank-specific variables explain the variation in dividend payouts

A simulation exercise shows that, in absence of the 2020 recommendation to withhold paying dividends, a significant part of bank profits would have been paid out to shareholders. Using the econometric specifications (1) to (6) and actual realisations of capital and profitability up to the third quarter of 2020, we estimated the counterfactual payout ratios for the sample of 30 listed euro area banks. The results suggested that payout ratios would be adjusted downward by most banks, although the adjustment would be small (up to 4 percentage points for most banks), reflecting the decline in profits and a broadly steady level of capital. Some of the banks projected to decrease payouts did not pay any dividends in 2020 (Chart 3). Together with a projected moderate increase in payouts by two banks, this would lead to an almost unchanged total value of distributions, of about EUR 19 billion, for this group of banks. This simulation comes with a caveat that, as the COVID-19 crisis led to economic disruptions that were unprecedented in Europe in peacetime, the relationships identified from the data may no longer hold true. Its results should therefore be viewed with some caution as the magnitude of the reduction in dividends would then, in all likelihood, be understated.

Chart 3

Simulation results suggest payouts would have been slightly lower in 2020 than in 2019

Estimated changes in bank dividend payouts in 2020

(left- y-axis: estimated change in payout ratios in 2020, percentage points; right - x-axis: payout ratio in 2019, y-axis: estimated change in payout ratio in 2020)

4 Policy implications

These results indicate that dividend restrictions may be necessary to retain capital in times of heightened economic uncertainty. Absent prudential constraints, endogenous adjustment of dividend policies by banks based on economic and financial driving factors would be expected to reflect weaker profitability and capitalization. The adjustment would be limited in magnitude and might come with a lag. Therefore, regulators may need to impose restrictions on dividend payouts with a more forward-looking view than that of the banks, especially in presence of great uncertainty about the financial impact of a developing crisis. The findings imply that it would be justified to discount future expected losses and capital constraints when designing such restrictions.

References

Abreu, J. F. and Gulamhussen, M. A. (2013), “Dividend payouts: evidence from U.S. bank holding companies in the context of the financial crisis”, Journal of Corporate Finance, Vol. 22, pp. 54-65.

Allen, F., and Michaely, R. (2003), “Payout policy”, in Constantinides, G.M., Harris, M. and Stulz, R.M. (eds.), Handbook of the Economics of Finance, vol. 1, Part 1, ch. 07, Elsevier, pp. 337-429.

Amore, M.D. and Murtinu, S. (2019), “Tobit models in strategy research: Critical issues and applications”, Global Strategy Journal, pp. 1-25.

Ashraf, B.N, Bibi, B. and Zheng, C. (2016), “How to regulate bank dividends? Is capital regulation an answer?”, Economic Modelling, Vol. 57, pp. 281-293.

Belloni, M., Grodzicki, M. and Jarmuzek, M. (2021), “What makes banks adjust dividend pay-outs”, mimeo.

Boldin, R. and Leggett, K. (1995), “Bank dividend policy as a signal of bank quality”, Financial Services Review, Vol. 4, pp. 1-8.

Casey, K.M. and Dickens, R. (2000), “The effects of tax and regulatory changes on commercial bank dividend policy”, Quarterly Review of Economics and Finance, Vol. 40, pp. 279-293.

Fama, E. and Babiak, H. (1968), “Dividend Policy: an Empirical Analysis”, Journal of the American Statistical Association, Vol. 63, pp. 1132-1161.

Fama, E. and French, K. (2001), “Disappearing dividends: changing firm characteristics or lower propensity to pay?”, Journal of Financial Economics, Vol. 60, pp. 3-43.

Forti, C. and Schiozer, R. (2015), “Bank dividends and signalling to information-sensitive depositors”, Journal of Banking and Finance, Vol. 56, pp. 1-11.

Kent Baker, H. and De Ridder, A. (2018), “Payout policy in industrial and financial firms”, Global Finance Journal, Vol. 37, Issue C, pp. 138-151.

Kroszner, R. and Strahan, P. (1996), “Regulatory incentives and the thrift crisis: dividends, mutual-to-stock conversions, and financial distress”, Journal of Finance, Vol. 51, pp. 1285-1319.

Lintner, J. (1956), “Distribution of incomes of corporations among dividends, retained earnings and taxes”, American Economic Review, Vol. 46, pp. 97-113.

Theis, J. and Dutta, A. (2009), “Explanatory factors of bank dividend policy: revisited”, Managerial Finance, Vol. 35, pp. 501-508.

Источник: https://www.ecb.europa.eu/pub/financial-stability/macroprudential-bulletin/html/ecb.mpbu202106_4~63bf1035a7.en.html

This article was originally published on Simply Wall St News.

Bank of America just delivered a slight miss on the earnings at US$21.6b, below the US$21.8b estimates. The bank blamed it on low interest rates that are influencing the whole financial sector. Meanwhile, earning-per-share (EPS) came in at US$0.80, outperforming the expectations of US$0.77.

Still, CEO Brian Moynihan remains optimistic, pointing out the increase in loans for the first time since early 2020. While the price fell on the news, it stopped at $38, rebounding for the second time since April. In the short term, this price remains the support - meaning that investors keep adding to their long positions there.

The Dividend

Starting in Q3 2021, Bank of America Corporation ( NYSE: BAC ) will increase its quarterly common stock dividend to US$0.21 per share. This represents a 17% increase from the current levels, and it was announced following the latest successful stress test that the bank passed on June 24 .

Dividend-paying companies with growing earnings can be advantageous in the long term. A 1.9% yield is nothing to get excited about, but given its successful dividend payout history and the announced hike - dividend reinvestment over the long-run has its appeal.

The company also bought back stock equivalent to around 1.3% of market capitalization this year. Some simple analysis can offer a lot of insight when buying a company for its dividend, and we'll go through this below.

Click the interactive chart for our full dividend analysis

NYSE: BAC Historic Dividend July 15th, 2021

Interest Rate Looms on the Horizon

It is no secret that low interest rates hit the financial sector hard. After all, interest rates dictate the large majority of income for financial bank of america dividend payout date, as they earn the spread.

With the interest rates at 0, the lowest point in history, bank had to up the non-interest income. However, this was not enough to provide a significant drop in net interest income, as evident from the annual income statement .

Yet, the winds are changing. Facing inflationary pressures, the FED is now bringing back interest rates hikes on the table. In March, they mentioned 2024, but now the timeline has already been moved to 2023. As the FED keeps on moving the schedule, expect the banking business to significantly pick up if rate hikes look to be on the horizon as some clients will likely rush in to refinance their loans with low-interest rates (if they haven’t already).

Dividend Volatility and Payout Ratio

Dividends are usually paid out of company earnings. If a company is paying more than it earns, then the dividend might become unsustainable. In the last year, Bank of Home savings bank chanute paid out 31% of its profit as dividends.

This range falls into a sweet spot as it leaves enough earnings to re-invest in the company - as long as the management makes sound investments.

Furthermore, while dividend investing always has a risk of the dividend getting cut or completely suspended, Bank of America has a solid track record over the last decade. During the past 10-year period, the first annual payment was US$0.04 in 2011, compared to US$0.7 the previous year. Dividends per share have grown at approximately 34% per year over this time.

It's rare to find a company that has grown its dividends rapidly over 10 years and not had any notable cuts, but Bank of America has done it.

Consider getting our latest analysis on Bank of America's financial position here.

Dividend Growth Potential

Dividend payments have been consistent over the past few years, but we should always check if earnings per share (EPS) are growing, as this will help maintain the purchasing power of the dividend.

Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see Bank of America has grown its earnings per share at 11% per annum over the past five years. Earnings per share have been growing at a reasonable rate, even in the low interest rate environment, and the company is paying less than half its earnings as dividends. We generally think this is an attractive combination, as it permits further reinvestment in the business.

Conclusion

Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing.

With the Bank of America fitting these criteria well, it is not surprising that it attracted interest from institutions. Warren Buffet added a hefty stake of US$2b a year ago with an average price of US$24.5. In total, Buffett owns 12% of the bank. This means that after the upcoming dividend hike, Berkshire Hathaway ( NYSE: BRK.A ) will receive over US$ 336m per year in dividends.

Ultimately, Bank of America fits all of our criteria, and we think it's an attractive dividend idea that would warrant further investigation.

It's important to note that companies with a consistent dividend policy will generate greater investor confidence than those with an erratic one. Still, investors need to consider a host of other factors, apart from dividend payments, when analyzing a company. To that end, Bank of America has 2 warning signs(and 1 which is a bit unpleasant) we think you should know about.

Simply Wall St analyst Stjepan Kalinic and Simply Wall St have no position in any of the companies mentioned. This article is general in nature. It does not constitute a recommendation to buy or sell any stock and does not best buy hsbc credit card account login account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

Источник: https://finance.yahoo.com/news/bank-america-nyse-bac-hikes-081454473.html

Dividend

How is the dividend paid?

  • For intermediary registered and bearer shares, Air Liquide pays the gross dividend to your financial institution, which will then credit your account with the net dividend net of withholding taxes
  • For direct registered shares, the dividend, net of withholding taxes, is paid by Air Liquide directly into your bank account

Your bank account will be credited in the following days, depending on the processing time needed by your financial institution.

Direct registered shareholders: if you have changed bank details, please update them from your personal Account, “My profile” section. You can also send it via our contact form  “Updating my personal details” accompanied by an identity document.

An additional 10% in dividends

If you hold your registered shares for more than two full calendar years, the loyalty bonus gives you the right to a 10% increase in the dividend.

2021 dividend calendar

  • May 14: Last execution day for buy orders for shares to be eligible for the 2019 dividend
  • May 17: Ex-dividend date, the opening price on this day will be reduced by the amount of the dividend
  • May 19: Dividend payment date

Taxation

Taxation of dividend in France for those residing outside france for tax purposes (for French tax residents): a statutory rate equal to at least 12.8% is withheld upon dividend payment by your account manager (Shareholder Services for direct registered Air Liquide shares, your financial institution for intermediary registered or bearer Air Liquide shares).

However, in most cases, a tax agreement (treaty between two countries aimed at avoiding the double-taxation of non-residents) is signed between France and your country of residence. The main aim of this agreement is to set a flat tax rate which is withheld from your dividends. To benefit from this rate, you must send Form 5,000  - also known as Cerfa n°12816*01-02 - (corresponding to the request to apply the rate adopted in the agreement), completed and signed by the tax authorities of your place of residence, to your account manager by mid-April. This Cerfa form can be downloaded from impots.gouv.fr. It must be resent to your account manager each year, otherwise the statutory rate will be applied upon payment of the dividend.

Источник: https://www.airliquide.com/shareholders/dividend

Dividend and distribution policy

Distribution policy

ING is committed to maintaining a healthy Group CET1 ratio above the prevailing fully-loaded requirement, plus a comfortable management buffer (including Pillar 2 Guidance). At the same time, ING aims to offer a sustainable and attractive return to shareholders.

As announced on November 5th 2020, ING’s bank of america dividend payout date policy is to pay-out 50% of resilient net profit (excluding extraordinary items). The 50% pay-out may be in the form of cash, or a combination of cash and share repurchases, with the majority in cash.

The aim is to pay a cash-only interim dividend, representing ~1/3 of first half year resilient net profit, with our half year results. The exact form and level of the final distribution will be subject to approval by the shareholders at the Annual General Meeting. Distribution proposals will reflect considerations that are relevant to a capital plan, including expected future capital requirements, growth opportunities available to the Group and regulatory developments. Furthermore, the execution of bank of america dividend payout date policy will comply with prevailing ECB recommendations on shareholder distributions.

Cash payment per share represent gross amounts which are subject to Dutch dividend withholding tax.

* ADR dividends are presented rounded to the second decimal. More information on American Depository Receipts and related dividends can be found at https://www.adr.com/drprofile/456837103. The applicable foreign exchange rate, and thus the final amount, is determined at the time of the dividend payment.
** ING has adhered to the recommendations by the ECB not to pay dividends or buy back shares from 27 March 2020 until 30 September 2021. The only exception was the payment of €0.12 per share on 24 February 2021, which was allowed by the ECB.
*** On 1 October 2021, ING announced a share buyback programme for EUR 1,744 million, commencing on 5 October 2021.

Источник: https://www.ing.com/Investor-relations/Share-information/Dividend-and-distribution-policy.htm

Wednesday’s breakouts: A bank stock with room for a conservative dividend hike of between 25% and 35%

On today’s Breakouts report, there are 14 stocks on the positive breakouts list (stocks with positive price momentum), and 57 securities are on the negative breakouts list (stocks with negative price momentum).

Bank stocks are surfacing on the positive breakouts list ahead of their quarterly earnings releases next week. Appearing on the positive breakouts list are Toronto-Dominion Bank (TD-T) and the Bank of Nova Scotia (BNS-T), which both rallied on high volume on Tuesday. Discussed today is a bank stock that may soon join these two banks on the positive breakouts list - Bank of Montreal (BMO-T).

A brief outline on BMO is provided below that may serve as a springboard for further fundamental research when conducting your own due diligence.

The company

The Bank of Montreal is the eighth-largest bank in North America, as measured by assets, serving 12 million customers worldwide (8 million personal and commercial customers in Canada). As of the end of the third-quarter, BMO had total assets of $971-billion.

The company has three core business segments: Personal & Commercial (P&C) Banking, BMO Capital Markets, and BMO Wealth Management. As at July 31, 35 per cent of adjusted net income over the trailing 12 months came from Canadian P&C, 24 per cent from U.S. P&C, 24 per cent from BMO Capital Markets, and 17 per cent from BMO Wealth Management.

In terms of geographical breakdown, 57 per cent of adjusted net income over the last 12 months was from Canada as at July 31, 37 per cent from the U.S., and 6 per cent from other regions.

The stock is dual-listed trading on the Toronto Stock Exchange and the New York Stock Exchange under the same ticker, BMO.

Investment Thesis

  • Solid quarterly financial results.
  • Tailwind: Strong economic growth is forecast for Canada and the U.S.
  • Tailwind: Rising interest rate environment. Currently, the Street anticipates the Bank of Canada will increase its key overnight rate to 0.75 per cent in 2022, up from its current level of 0.25 per cent, and lift the overnight rate to 1.5 per cent in 2023.
  • Loan growth. Last quarter, average loan growth in the Canadian P&C banking division increased 3 per cent sequentially. The U.S. P&C banking segment lagged, declining 2 per cent quarter-over-quarter.
  • Excess capital. Potential catalysts: 1) large dividend hike(s); 2) share repurchases
  • Valuation: Room for multiple expansion as well as increases in earnings forecasts.
  • Series of earnings beats. For the past five quarters, the company has reported better-than-expected earnings results with the share price rallying between 1.5 per cent and 5.7 per cent on its reporting date.

Quarterly earnings

Before the market opened on Aug. 24, the company reported better-than-expected third-quarter financial results (its fiscal year-end ends Oct. 31) that sent the share price rising 1.7 per cent that day. Adjusted earnings per share came in at $3.44, handily exceeding the consensus estimate of $2.94. Adjusted return on equity increased to 17.6 per cent, and the Common Equity Tier 1 (CET1) ratio increased to 13.4 per cent from 13 per cent reported last quarter. The adjusted net efficiency ratio improved to 55.7 per cent.

The company will be releasing its fourth-quarter financial results before the market opens on Dec. 3. The Street is forecasting earnings per share to come in at $3.18. That day, management will host an earnings call at 8 a.m. ET.

Returning capital to shareholders

The company pays shareholders a quarterly dividend of $1.06 per share, or $4.24 per share on a yearly basis. This equates to a current annualized yield of 3 per cent.

Management targets a payout ratio of between 40 per cent and 50 per cent, implying the company has room for a significant dividend hike. Management acknowledged that its board of directors may decide to raise its dividend in one large move or perhaps through two smaller moves.

To be conservative, if we assume earnings per share of $12.60 and a payout ratio of 42 per cent (at the lower end of its targeted 40 to 50 per cent range), that would equate to an annual dividend of $5.29 per share, a 25-per-cent increase from its current annual dividend of $4.24 per share. A payout ratio of 45 per cent would equate to an annual dividend of $5.67, a 34-per-cent dividend increase.

At the beginning of the month, the Office of the Superintendent of Financial Institutions (OSFI) removed restrictions on dividend hikes and share buybacks.

At Barclays’ Virtual Global Financial Services Conference held in September, chief financial officer Tayfun Tuzun remarked on the company’s excess capital, “We are quite optimistic for our investors that we will be able to get back on track with our dividend payout ratio…it could take one or two moves, but it will be a quick catch-up period. Dividends alone will not get us back to the targeted capital ratios. So there’s clearly going to be some buybacks associated with it.”

Analysts’ recommendations

According to Bloomberg, the bank stock is covered by 14 analysts, of which eight analysts have buy recommendations, four analysts have neutral recommendations, and two analysts have sell recommendations (Veritas’ Nigel D’Souza and ISS-EVA’s Casey Lea).

The 14 firms providing recent research coverage on the company are: Barclays, Canaccord Genuity, CIBC World Markets, Cormark Securities, Credit Suisse, Desjardins Securities, Fundamental Research, ISS-EVA, Morningstar, National Bank Financial, RBC Dominion Securities, Scotia Capital, TD Securities and Veritas Investment Research.

Revised recommendations

Earlier this bank of america dividend payout date, four analysts raised their target prices.

  • CIBC’s Paul Holden lifted his target price to $157 from $148.
  • Desjardins’ Doug Young upgraded his recommendation to a “buy” from a “hold” and bumped his target price to $146 from $138.
  • Scotia Capital’s Meny Grauman raised his target price to $161 (the high on the Street) from $147.
  • Vertias’ Nigel D’Souza raised his target price to $148 from $139.

Financial forecasts

According to Bank of eastern oregon near me, the Street is forecasting earnings per share of $12.65 in fiscal 2021, $12.57 in fiscal 2022, and $13.44 in fiscal 2023.

Earnings estimates have been rising. For instance, four months ago, the consensus earnings per share estimates were $11.86 for fiscal 2021 and $11.68 for fiscal 2022.

Ahead of the fourth-quarter earnings releases, the consensus earnings per share estimates for its industry peers have also been ticking up and are as follows:

  • Bank of Nova Scotia (BNS-T): $7.70 in fiscal 2021 and $7.96 in fiscal 2022.
  • Canadian Imperial Bank of Commerce (CM-T): $14.61 in fiscal 2021 and $14.43 in fiscal 2022.
  • Royal Bank of Canada (RY-T): $11.29 in fiscal 2021 and $11.20 in fiscal 2022.
  • Toronto-Dominion Bank (TD-T): $7.75 in fiscal 2021 and $7.84 in fiscal 2022.

Valuation

According to Bloomberg, the stock is trading at a price-to-earnings (P/E) multiple of 11.1 times the fiscal 2022 consensus estimate, relatively in-line with its 10-year historical average of 10.98 times and below its peak multiple of approximately 12.8 times during this time period.

Should the P/E multiple expand to 11.65 times with the consensus earnings per share estimate remaining unchanged (conservative assumptions), the target price would be approximately $146.50.

According to Bloomberg, the average 12-month target price is $147.24, implying the share price has 5 per cent upside potential over the next year. Target prices range from a low of $130 (at Morningstar) to a high of $161 (from Meny Grauman at Scotia). Individual target prices provided by 13 firms are as follows in numerical order: $130, $132, $134.29, $144, two at $146, $147, $148, two at $149, $150, $157, and $161.

Its peers are trading at the following forward P/E multiples:

  • Bank of Nova Scotia at 10.48 times (10-year average is 11.07 times).
  • CIBC at 10.34 times (10-year average is 9.95 times).
  • Royal Bank at 11.76 times (10-year average is 11.78)
  • TD Bank at a multiple of 12.14 times (10-year average is 11.64 times).

Insider transaction activity

Quarter-to-date, there has not been any trading activity in the public market reported by insiders.

Chart watch

Year-to-date, the share price has rallied 45 per cent, realizing the highest price return of the Big 5 banks. The second-best performing stock is CIBC with a price return of 37 per cent in 2021.

Looking at key technical support and resistance levels, the stock is trading just below an initial ceiling of resistance around $140, near its record closing high of $140.27 reached on Nov. 12. After that, there is overhead resistance around $150. Looking at the downside, there is initial technical support around $130, close to its 100-day moving average (at $130.01).

POSITIVE BREAKOUTSNov. 23 close
ALS-TAltius Minerals Corp $17.25
ARR-TAltius Renewable Royalties Corp. $11.12
BNS-TBank of Nova Scotia $83.40
DRM-TDREAM Unlimited Corp $34.86
ERF-TEnerplus Corp $13.40
FRX-TFennec Pharmaceuticals Inc. $12.33
FSV-TFirstService Corp $253.14
GRT-UN-TGranite Real Estate Investment Trust $100.97
PZA-TPizza Pizza Royalty Corp $12.13
PLZ-UN-TPlaza Retail REIT $4.62
SRX-TStorm Resources Ltd. $6.34
SYZ-TSylogist Ltd. $12.08
TD-TToronto-Dominion Bank $95.22
UNS-TUni-Select Inc $23.03
NEGATIVE BREAKOUTS
ABCT-TABC Technologies Holdings Inc. $7.22
ARE-TAecon Group Inc $16.81
AEZS-TAeterna Zentaris Inc. $0.61
AQN-TAlgonquin Power & Utilities Corp $17.62
ADW-A-TAndrew Peller Ltd $8.25
ORA-TAura Minerals Inc. $10.63
ACQ-TAutoCanada Inc $33.70
BRAG-TBragg Gaming Group Inc. $7.88
BEPC-TBrookfield Renewable Corporation $47.23
DOO-TBRP Inc $102.88
BU-TBurcon NutraScience Corp $1.56
CAE-TCAE Inc $34.20
CNE-TCanacol Energy Ltd $3.21
CAR-UN-TCanadian Apartment Properties REIT $57.93
CPX-TCapital Power Corp $40.27
CRDL-TCardiol Therapeutics Inc. $2.58
CJT-TCargojet Inc $177.42
CGG-TChina Gold International Resources Corp. $3.19
DOC-XCloudMD Software & Services Inc. $1.23
CRON-TCronos Group Inc. $5.93
DHT-UN-TDRI Healthcare Trust $6.81
EXE-TExtendicare Inc $6.98
FTRP-TField Trip Health Ltd. $5.42
FOBI-XFobi AI Inc. $1.49
FVI-TFortuna Silver Mines Inc $4.62
FOOD-TGoodfood Market Corp. $4.09
HAI-THaivision Systems Inc. $6.80
HEXO-THEXO Corp. $1.43
HLS-THLS Therapeutics Inc. $16.56
IAU-Ti-80 Gold Corp. $2.80
IVQ-U-TInvesque Inc. $1.68
KEY-TKeyera Corp $29.16
LAS-A-TLassonde Industries Inc $149.02
LB-TLaurentian Bank of Canada $39.44
LSPD-TLightspeed POS Inc. $67.67
MKP-TMCAN Mortgage Corp $17.65
MDF-TMDF Commerce Inc. $4.86
MMED-NEMind Medicine Inc. $2.57
MRT-UN-TMorguard Real Estate Investment Trust $5.45
MTY-TMTY Food Group Inc. $58.65
MTL-TMullen Group Ltd $12.04
NFI-TNew Flyer Industries Inc $21.81
NVEI-TNuvei Corporation $116.56
PBL-TPollard Banknote Ltd. $37.75
PBH-TPremium Brands Holdings Corp $128.30
PGM-XPure Gold Mining Inc. $0.80
RPI-UN-TRichards Packaging Income Fund $55.80
SOY-TSunOpta Inc. $8.23
THNC-TThinkific Labs Inc. $8.34
LCFS-TTidewater Renewables Ltd. $14.10
TOI-XTopicus.com Inc. $118.49
VCM-TVecima Networks Inc $15.20
VMD-TViemed Healthcare Inc. $6.79
VFF-TVillage Farms International $9.19
WFC-TWall Financial Corp. $15.25
WM-TWallbridge Mining Company Limited $0.44
WELL-TWell Health Technologies Corp. $5.81

Source: Bloomberg and The Globe and Mail

This report is not an investment recommendation. The Breakouts file is a technical analysis screen intended to identify companies that are technically breaking out. In addition, this report highlights a company’s dividend policy, analysts’ recommendations, financial forecasts, and provides a brief technical analysis for a security to provide readers arvest bank near me now more information.

If a stock appears on the positive breakouts list, this indicates positive price momentum, and that a company may be worthwhile for investors to look at the fundamentals in order to determine if the recent price strength is warranted and will continue. If a security appears on the negative breakouts list, this indicates negative price momentum, and may be indicative of either deteriorating fundamentals or perhaps indicates a buying opportunity.

Securities screened are from the S&P/TSX composite index, the S&P/TSX Small Cap index, as well as Canadian small cap stocks outside of these indexes that have a minimum market capitalization of $200-million.

A technical analysis screen does not replace fundamental analysis, but can help identify companies worth having a closer look at.

Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.

Источник: https://www.theglobeandmail.com/investing/markets/inside-the-market/article-wednesdays-breakouts-a-bank-stock-with-room-for-a-conservative/

Dividends

Investing in securities involves risks, and there is always the potential of losing money when you invest in securities.

This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation, offer or solicitation for the purchase or sale of any security, financial instrument, or strategy. Before acting on any information in this material, you should consider whether it is suitable for your particular circumstances and, if necessary, seek professional advice. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue.

Content contained herein may have been produced by an outside party that is not affiliated with Bank of America or any of its affiliates (Bank of America). Opinions or ideas expressed are not necessarily those of Bank of America nor do they reflect their views or endorsement. These materials are for informational purposes only. Bank of America does not assume liability for any loss or damage resulting from anyone's reliance on the information provided. Certain links may direct you away from Bank of america dividend payout date of America to an unaffiliated site. Bank of America has not been involved in the preparation of the content supplied at the unaffiliated sites and does not guarantee or assume any responsibility for its content. When you visit these sites, you are agreeing to all of their terms of use, including their privacy and security policies.

Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S” or “Merrill”) makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation (“BofA Corp.”). MLPF&S is a registered broker-dealer, registered investment adviser, Member SIPC and a wholly owned subsidiary of BofA Corp.

Trust and fiduciary services are provided by Bank of America Private Bank, a division of Bank of America, N.A., Member FDIC, and a wholly-owned subsidiary of Bank of America Corporation (“BofA Corp.”). Insurance and annuity products are offered through Bank of america dividend payout date Lynch Life Agency Inc. (“MLLA”), a licensed insurance agency and wholly-owned subsidiary of BofA Corp.

Investment products offered through MLPF&S and insurance and annuity products offered through MLLA:

Are Not FDIC InsuredAre Not Bank GuaranteedMay Lose Value
Are Not DepositsAre Not Insured by Any Governmental AgencyAre Not a Condition to Any Banking Service or Activity



"Bank of America" is the marketing name for the global banking and global markets business of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, BofA Securities, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Merrill Lynch Professional Clearing Corp., all of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. BofA Securities, Inc., Bank of america dividend payout date Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA.

Company goals are aspirational and not guarantees or promises that all goals bank of america dividend payout date be met. Statistics and metrics included in our ESG documents are estimates and may be based on assumptions or developing standards.

Источник: https://investor.bankofamerica.com

Dividend information

Dividends on ordinary shares are normally paid twice a year – an interim dividend in April and a final dividend in October. The approximate split between the two payments is 40/60.

You can choose whether to take your dividends in cash or to reinvest them in ordinary shares under our Dividend Reinvestment Plan (DRIP).

Cash dividend payments are made by cheque on the dividend payment date, unless you choose to mandate your dividends, in which case they will be paid direct to your bank or building society account on the payment date.

Dividend confirmations

To help with record keeping and to reduce printing, paper and postage costs, we issue one Annual Dividend Confirmation in October each year. This contains details of all dividends paid during the tax year and is available to view and download online through the Share Portal.

You will receive annual notice bank of america dividend payout date October by email or post to let you know when the confirmations is available to view online. Those shareholders who have chosen paper as their preferred communication method will continue to receive a paper document in October each year.

Dividend mandates

You can have your cash dividends paid directly into your UK bank account on the dividend payment. To notify the Registrar of your bank details you can:

  • Register with our Share Portal. This is the easiest way to notify the Registrar and also allows you to manage your holding online.
  • If you live outside the UK, our Registrar, Link Group, offer an International Payments Service, which facilitates the conversion of your dividend payment into the currency of your choice with payment sent by draft or electronically. You can sign up for this service on our Share Portal.

Dividend Reinvestment Plan (DRIP)

The DRIP gives you the opportunity to build up your shareholding in Diageo by using your cash dividends to purchase further Diageo shares.

The DRIP is administered by our Registrar, Link Group.  Please contact the Registrar should you wish to reinvest your dividends.

Visit our financial calendar for the record date and the date for return of DRIP mandate forms in respect of a particular dividend.

The purchases are made on, or as soon as reasonably practicable, after the dividend payment date, at the market price(s) available at the time. Any surplus cash dividend remaining is carried forward and added to your next dividend payment.

To be eligible to participate in the DRIP for a particular dividend your shareholding must appear on the share register on the record date for the payment of that dividend.

Full terms and conditions can be found on the Share Portal.

Dividend history

Year ended JuneInterim/FinalNet amount (pence)Payment date
1998Interim
Final
7.20 + 5.3
10.8
24.04.98
30.11.98
1999Interim
Final
7.8
11.7
30.04.99
15.11.99
2000Interim
Final
8.4
12.6
13.04.00
15.11.00
2001Interim
Final
8.9
13.4
23.04.01
05.11.01
2002Interim
Final
9.3
14.5
22.04.02
04.11.02
2003Interim
Final
9.9
15.7
07.04.03
27.10.03
2004Interim
Final
10.6
17
06.04.04
29.10.04
2005Interim
Final
11.35
18.2
06.04.05
24.10.05
2006Interim
Final
11.95
19.15
10.04.06
22.10.06
2007Interim
Final
12.55
20.15
10.04.07
22.10.07
2008Interim
Final
13.2
21.15
07.04.08
20.10.08
2009Interim
Final
13.9
22.2
06.04.09
19.10.09
2010Interim
Final
14.6
23.5
06.04.10
19.10.10
2011Interim
Final
15.5
24.9
06.04.11
24.10.11
2012Interim
Final
16.6
26.9
10.04.12
22.10.12
2013Interim
Final
18.1
29.3
08.04.13
03.10.13
2014Interim
Final
19.7
32
07.04.14
02.10.14
2015Interim
Final
21.5
34.9
07.04.15
08.10.15
2016Interim
Final
22.6
36.6
07.04.16
06.10.16
2017Interim
Final
23.7
38.5
06.04.17
05.10.17
2018Interim
Final
24.9
40.4
06.04.18
04.10.18
2019Interim
Final

26.1
42.47

11.04.19
03.10.19
2020

Interim
Final

27.41
42.47

09.04.20
08.10.20
2021

Interim
Final

27.96
44.59

08.04.21
07.10.21

Dividend calculator

Calculate the value of your dividend.

Источник: https://www.diageo.com/en/investors/shareholder-centre/ordinary-shares/dividend-information/
bank of america dividend payout date

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