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ITEM 8.01
Other Events.
On June 28, 2018, Bank of America Corporation (the “Corporation”)
issued a news release announcing that the Corporation’s Board of Directors (the “Board”) plans to increase the quarterly dividend paid on shares of the Corporation’s common stock to $0.15 per share, beginning in the third quarter of 2018. The news release also announced that the Board has authorized the repurchase of $20.6 billion in common stock from July 1, 2018 through June 30, 2019, which includes approximately $0.6 billion in repurchases to offset shares awarded under equity-based compensation plans during the same period. The Board’s common stock repurchase authorization covers both common stock and warrants and replaces the Board’s prior common stock repurchase authorization that expires on June 30, 2018.
In addition,
the news release announced that the Board of Governors of the Federal Reserve System completed its 2018 Comprehensive Capital Analysis and Review, and informed the Corporation that it did not object to the Corporation’s capital plan, including the dividend and repurchase actions described above.
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.