Bank of America stock buyback
Bank of America, the largest Bank is in the United States says it is going to buy back some shares. Over the next 12 to 18 months, it says it is going to buy back approximately 75 million shares. This of course has brought the stock up and also helped investors put a little faith in the banking giant.
According to Reuters,
“Bank of America itself bought back no stock in the second quarter, when rising credit losses led to a 41 percent decline in profit to $3.41 billion.”
Bank of America is also keeping to its quarterly dividend to its shareholders of 64 cents per share. This is good news and keeps those strong investors holding onto Bank of America stock as it has given this specific dividend for the last 30 straight years without hangups. We will be discussing more on Bank of Americas CD rates as well as mortgage rates in one of the following articles and comparing their rates to Wachovia and other large financial companies and banks.
