Bank of America Corporation and Merrill Lynch & Co., Inc. announced their respective Boards of Directors declared preferred dividends
The initial cash dividend of $125 per share, or a total of approximately $50 million, on the Fixed-Rate Cumulative Perpetual Preferred Stock, Series Q, is payable on February 17, 2009 to the shareholder of record as of January 31, 2009. This is the first quarterly dividend payment to the U.S. Department of the Treasury, the shareholder of record, related to the federal government’s $10 billion investment in Merrill Lynch & Co., Inc. made under the Capital Purchase Program of the Troubled Asset Relief Program (TARP) legislation.
The initial cash dividend of $161.11 per share, or a total of approximately $129 million, on the Fixed-Rate Cumulative Perpetual Preferred Stock, Series R, is payable on February 17, 2009 to the shareholder of record as of January 31, 2009. This is the first quarterly dividend payment to the U.S. Department of the Treasury, the shareholder of record, related to the federal government’s $20 billion investment on January 16, 2009, in Bank of America made under TARP.
A quarterly cash dividend of $2,250 per share on the Merrill Lynch 9 Percent Non-Voting Mandatory Convertible Non-Cumulative Preferred Stock, Series 2, is payable on March 2, 2009, to shareholders of record as of February 15, 2009.
A quarterly cash dividend of $2,250 per share on the Merrill Lynch 9 Percent Non-Voting Mandatory Convertible Non-Cumulative Preferred Stock, Series 3, is payable on March 2, 2009, to shareholders of record as of February 15, 2009.
D.C.