Bank of America Corp. and Wells Fargo & Co. both pleased the Federal Reserve with their 2016 stress tests. As soon as companies heard word they had passed this year’s stress test, banks announced stock dividend increases and stock repurchase plans. Bank of America, for example, announced it is increasing its quarterly common stock dividend by 50% to 7.5 cents per share starting in the third quarter of 2016. The company's board also authorized a repurchase of $5 billion in common stock from July…
from Charlotte Business News - Local Charlotte News | Charlotte Business Journal http://www.bizjournals.com/charlotte/news/2016/06/29/bank-of-america-wells-fargo-and-29-peers-pass-fed.html?ana=RSS%26s=article_search
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