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Bank of America Declares Preferred Dividends
Thursday October 2, 10:16 am ET


CHARLOTTE, N.C., Oct. 2 /PRNewswire/ -- Bank of America Corporation today announced the Board of Directors has authorized dividends on preferred stock.
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A regular quarterly cash dividend of $0.38775 per depositary share on the 6.204 percent Non-Cumulative Preferred Stock, Series D, is payable on December 15, 2008 to shareholders of record as of November 28, 2008. A regular quarterly cash dividend of $0.25278 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series E, is payable on November 17, 2008 to shareholders of record as of October 31, 2008. A regular quarterly cash dividend of $0.51250 per depositary share on the 8.20 percent Non-Cumulative Preferred Stock, Series H, is payable on November 3, 2008 to shareholders of record as of October 15, 2008. A regular quarterly cash dividend of $0.4140625 per depositary share on the 6.625 percent Non-Cumulative Preferred Stock, Series I, is payable on December 31, 2008 to shareholders of record as of December 15, 2008. A regular quarterly cash dividend of $0.453125 per depositary share on the 7.25 percent Non-Cumulative Preferred Stock, Series J, is payable on November 3, 2008 to shareholders of record as of October 15, 2008. The initial semi-annual cash dividend of $44.0104 per depositary share on the Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series M, is payable November 17, 2008 to shareholders of record as of October 31, 2008.

Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 59 million consumer and small business relationships with more than 6,100 retail banking offices, more than 18,500 ATMs and award-winning online banking with more than 25 million active users. Bank of America offers industry leading support to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500. Bank of America Corporation stock (NYSE: BAC - News) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.


http://www.bankofamerica.com

A break of 38$ range would be bullish here imo

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Bloomberg.com: Worldwide
Dec. 15 (Bloomberg) -- Bank of America Corp. will need to raise more capital to offset rising loan losses and the company’s stock may sink to $9, according to Friedman, Billings, Ramsey Group Inc. analyst Paul Miller.

1- SAN FRANCISCO (MarketWatch) -- Standard & Poor's Ratings Services on Tuesday upgraded Merrill Lynch & Co.'s long-term counterparty credit rating to A+ from A and affirmed its A-1 short-term counterparty credit rating. "The ratings action follows Bank of America Corp.'s acquisition of Merrill Lynch and equalizes our ratings on Merrill Lynch with those on Bank of America," said S&P's credit analyst John Bartko. The outlook is negative and the rating on BAC is not affected by the close of the deal.

2 - Bank of America(BAC) is announcing that Bob McCann, who has led Merrill Lynch's 16,000 brokerage division since 2003, is stepping down.
This news follows November's announcement that the top executive of Merrill Lynch & Co.'s Asian investment banking unit was leaving the U.S.-based brokerage.
It seems that the deal did have its opponents who felt the cultures were too different for the synergies to be effective. We have said that buying an investment bank like Merrill Lynch is far from a layup for any acquirer. If the acquirer cannot retain and keep superstar brokers, then there is a likelihood that assets can walk out the door as well. It will be interesting to watch the combination materialize over time. We had removed shares of Bank of America from our "Recommended" list back on Sept. 15, when the stock traded at $33.74. We would still avoid the name at this current time.

3 - SAN FRANCISCO (MarketWatch) Bank of America Chief Executive Kenneth Lewis warned that 2008 results will fall short of expectations and said executives at the giant lender, including him, shouldn't get bonuses for last year.
Bank of America CEO sees 2008 results below expectations - MarketWatch

4 - Bloomberg) Bank of America Corp., the largest U.S. bank, is planning to sell up to $2.8 billion of its China Construction Bank Corp. shares, according to sales documents being distributed in the marketplace
Bloomberg.com: Worldwide