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The Charlotte, N.C.-based bank announced Wednesday it will raise its quarterly dividend for the first time in seven years. BAC will begin paying a quarterly dividend of $0.05 a share, up from $0.01, with its Sept. 26 distribution.
The increase gives BAC shares a yield of 1.32%, a handsome improvement over their prior yield of 0.3%. Raising BofA's dividend has been a top priority for Chief Executive Officer Brian Moynihan. Before the 2008 financial crisis, BofA paid a quarterly dividend as high as $0.64 per share.
Bank of America is among 52 companies that sweetened their dividend payouts last week. Here's a look at 25 notable hikes from the week ending Aug. 8.
25 More Dividend-Paying Stocks That Just Boosted Payouts
Aqua America Inc. (NYSE: WTR) upped its quarterly dividend 8.6% to $0.165 a share for a 2.74% yield. This enrichment marks the water company's 24th increase in 23 years.
Atlas Energy LP (NYSE: ATLS) increased its quarterly dividend $0.03 to $0.49 a share for a 4.67% yield.
Burger King Worldwide Inc. (NYSE: BKW) boosted its quarterly payout a penny to $0.08 a share for a 1.23% yield.
Carlisle Companies Inc. (NYSE: CSL) raised its quarterly dividend $0.03 to $0.25 a share for a 1.23% yield. The enhancement marks the 38th consecutive dividend boost from the diversified manufacturing company.
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