Bank of America : Declares Preferred Dividends

September 16, 2016

Bank of America Corporation today announced the Board of Directors authorized a regular quarterly cash dividend of $18.125 per share on the 7.25 percent Non-Cumulative Perpetual Convertible Preferred Stock, Series L. The dividend is payable on October 31 to shareholders of record as of October 1.

The board authorized a regular quarterly cash dividend of $0.40625 per depositary share on the 6.50 percent Non-Cumulative Preferred Stock, Series Y. The dividend is payable on October 27 to shareholders of record as of October 1.

The board authorized a regular semi-annual cash dividend of $32.50 per depositary share on the Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series Z. The dividend is payable on October 24 to shareholders of record as of October 1.

The board authorized a regular quarterly cash dividend of $0.3875 per depositary share on the 6.20 percent Non-Cumulative Preferred Stock, Series CC. The dividend is payable on October 31 to shareholders of record as of October 1.

Also, the board authorized a regular quarterly cash dividend of $0.375 per depositary share on the 6.00 percent Non-Cumulative Preferred Stock, Series EE. The dividend is payable on October 25 to shareholders of record as of October 1.

Bank of America

Bank of America is one of the world's leading 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 approximately 47 million consumer and small business relationships with approximately 4,700 retail financial centers, approximately 16,000 ATMs, and award-winning online banking with approximately 33 million active accounts and more than 20 million mobile active users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in all 50 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

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Investors May Contact:
Lee McEntire, Bank of America, 1.980.388.6780
Jonathan Blum, Bank of America (Fixed Income), 1.212.449.3112

Reporters May Contact:
Jerry Dubrowski, Bank of America, 1.980.388.2840
jerome.f.dubrowski@bankofamerica.com