Bank of America Corporation (the "Corporation") filed a Current Report on Form 8-K with the U.S. Securities and Exchange Commission ("SEC") on February 7, 2019, announcing that the Corporation's Board of Directors authorized the repurchase of $2.5 billion of the Corporation's common stock by June 30, 2019. This authorization is in addition to the previously announced authorization to repurchase $20 billion in common stock from July 1, 2018 through June 30, 2019, plus repurchases to offset shares awarded under equity-based compensation plans during the same period, estimated to be approximately $0.6 billion.
The timing and exact amount of the Corporation's repurchases will be subject to various factors, including the Corporation'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 repurchases may be effected through open market purchases or privately negotiated transactions, including Rule 10b5-1 plans.
Bank of America Corporation makes available all of its SEC filings on its website: http://investor.bankofamerica.com/phoenix.zhtml?c=71595&p=irol-irhome.
The SEC maintains a website that contains reports, proxy statements and other information regarding issuers that file electronically with the SEC. These materials may be obtained electronically by accessing the SEC's website at http://www.sec.gov. A copy of the document will also be available on the National Storage Mechanism's website at: http://www.morningstar.co.uk/uk/NSM.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190207005940/en/
Contacts:
Amanda D. Daniel
North Carolina Certified Paralegal
Bank of America
+1 980.388.5923
