Bank of America Corporation
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Publicatie datum
18 mrt 2016 - 16:16
Statutaire naam
Bank of America Corporation
Titel
BANK OF AMERICA CORPORATION FILED A FORM 8-K
Bericht
CHARLOTTE, N.C.– (BUSINESS WIRE) – March 18, 2016 – Bank of America Corporation (the "Corporation") filed a Current Report on Form 8-K with the U.S. Securities and Exchange Commission ("SEC") on March 18, 2016, announcing that its Board of Directors has authorized the Corporation to repurchase up to $800 million of the Corporation’s common stock to offset the share count dilution resulting from equity incentive compensation recently awarded to retirement-eligible employees. This authorization is in addition to the Corporation’s $4.0 billion share repurchase authorization announced on March 11, 2015.
Under the Board of Governors of the Federal Reserve System (“Federal Reserve”) regulations (12 CFR 225.8(g)(2)), a well capitalized bank holding company may notify the Federal Reserve of its intention to make additional capital distributions not to exceed one percent of its tier 1 capital and which were not contemplated in its capital plan, subject to the Federal Reserve’s non-objection. The Federal Reserve did not object to the Corporation’s proposed repurchases. The proposed repurchases are not connected to the Corporation’s 2016 Comprehensive Capital Analysis and Review submission.
The timing and exact amount of the Corporation’s repurchases will be subject to various factors, including the Corporation’s capital position, liquidity, financial performance and alternative uses of capital, stock trading price, and general market conditions, and may be suspended at any time. The repurchases may be effected through open market purchases or privately negotiated transactions, including Rule 10b5-1 plans.
Datum laatste update: 22 februari 2026