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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Dover Corp. (NYSE: DOV) increased its quarterly dividend 6.7% to $0.40 a share for a 1.87% yield. This is the 59th consecutive year in which the energy equipment manufacturer has increased its annual cash dividend. With this increase, Dover has the fourth-longest record of consecutive annual dividend increases of all listed companies, according to Mergent's Dividend Achievers.
EOG Resources Inc. (NYSE: EOG) boosted its quarterly payout 34% to $0.1675 a share for a 0.62% yield.
Expedia Inc. (Nasdaq: EXPE) raised its quarterly dividend $0.03 to $0.18 a share for a yield approaching 1%.
Grupo Aeroportuario del Centro Nort (Nasdaq ADR: OMAB) goosed its quarterly disbursement 63.5% to $0.75 a share for a 7.33% yield.
Harman International Industries Inc. (NYSE: HAR) hiked its quarterly dividend $0.03 to $0.33 a share for a 1.22% yield.
Hawkins Inc. (Nasdaq: HWKN) boosted its quarterly dividend $0.02 to $0.38 a share for a 2.18% yield. This is the 29th consecutive year the chemical products company has paid cash distributions since first shelling out dividends in 1985.
International Flavor & Fragrances Inc. (NYSE: IFF) increased its quarterly dividend $0.08 to $0.47 a share for a 1.9% yield.
J2 Global Inc. (Nasdaq: JCOM) juiced its quarterly payout 2.8% to $0.27 a share for a 2.18% yield.
KLA-Tencor Corp. (Nasdaq: KLAC) raised its dividend a nickel to $0.50 a share for a 2.76% yield.
Leggett & Platt Inc. (NYSE: LEG) increased its quarterly payout a penny to $0.31 a share for a 3.7% yield. The manufacturer of energy components has been paying dividends for 43 consecutive years.
Manulife Financial Corp. (NYSE: MFC) moved its dividend up 19% to $0.14 a share for a 2.86% yield.
Mondelez International Inc. (Nasdaq: MDLZ) fattened its quarterly dividend a penny to $0.15 a share for a 1.7% yield.
Monsanto Co. (NYSE: MON) raised its quarterly payout $0.06 to $0.49 a share for a 1.7% yield. The agricultural company has increased its dividend five times since the end of fiscal year 2010, for a cumulative increase of almost 85% over that time span.
Murphy Oil Corp. (NYSE: MUR) upped its quarterly dividend 12% to $0.35 a share for a 2.28% yield.
Pinnacle Foods Inc. (NYSE: PF) increased its quarterly dividend 12% to $0.23 a share for a 3.06% yield. Earlier this year, PF was set to be bought by Hillshire Brands Co. (NYSE: HSH) until Tyson Foods Inc. (NYSE: TSN) swooped in and gobbled up Hillshire.
Ritchie Bros Auctioneers (NYSE: RBA) raised its quarterly dividend a penny to $0.14 a share for a 2.31% yield.
Sinclair Broadcast Group Inc. (Nasdaq: SBGI) boosted its quarterly dividend 10% to $0.16 a share for a 2.04% yield.
Spectra Energy Partners LP (NYSE: SEP) sweetened its quarterly payout 1.8% to $0.56 a share for a 4.21% yield.
Steris Corp. (NYSE: STE) raised its quarterly dividend $0.02 to $0.23 a share for a 1.89% yield.
Terra Nitrogen Co. LP (NYSE: TNH) hiked its quarterly dividend 3.3% to $3.11 a share for a 6.74% yield.
Walgreen Co. (NYSE: WAG) increased its quarterly distribution 7.1% to $0.33 a share for a 2.22% yield. The retail drug store chain was in the news last week for announcing it will not relocate overseas to take advantage of a lucrative and increasingly popular move called a tax inversion.
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