The Board of Governors of the Federal Reserve System approved Bank of America Corp.’s (NYSE: BAC) plan to return as much as $37 billion to shareholders over the next year.

As part of that plan, BofA will increase its stock dividends by 20% to 18 cents per share starting in the third quarter. The bank also plans to buy back nearly $31 billion in common stock between July 1 and June 30, 2020. That includes $900 million in repurchases to offset the shares in equity-based compensation plans during that…

Boston Biz Journal https://www.bizjournals.com/boston/news/2019/07/01/fed-oks-bank-of-americas-plan-to-return-billions.html?ana=RSS&s=article_search