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Bank of America Corp Plans to Repurchase up to $5 Billion in Common Shares


Thursday, 14 Mar 2013 04:45pm EDT 

Bank of America Corp announced that the Company`s Board of Directors authorized the repurchase of up to $5.0 billion of common stock and the redemption of approximately $5.5 billion in preferred stock. The timing and exact amount of common share repurchases will be consistent with the Company`s capital plan and will be subject to various factors, including the Company`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 common share repurchases may be effected through open market purchases or privately negotiated transactions, including Rule 10b5-1 plans, over the next four quarters. 

Company Quote

61.18
0.36 +0.59%
2:45pm EST