Bank of America Corporation
BACFinancial Services · Banks - Diversified · Stock · quarterly payer
Forward Yield
2.50%
Annual Dividend
$1.28
Payout Ratio
26%
5-Yr Growth
8.4%
Ex-Date
Sep 4, 2026
Frequency
Quarterly
Key facts about BAC's dividend
Data as of · Source: SmarterDividends data
- As of Oct 19, 2026, Bank of America Corporation (BAC) has a forward dividend yield of 2.50%, based on an annual dividend of $1.28 per share and a share price of $51.23.
- As of Oct 19, 2026, BAC's dividend safety grade from SmarterDividends is A (87 out of 100), which rates the dividend as very safe.
- By SmarterDividends' count, Bank of America Corporation (BAC) has raised its dividend for 12 consecutive years as of Oct 19, 2026.
- BAC last cut its regular dividend in 2009.
- BAC's most recent ex-dividend date was Sep 4, 2026, for a dividend of $0.32 per share.
- As of Oct 19, 2026, BAC pays out 26% of its trailing 12-month earnings as dividends (its payout ratio).
- BAC's dividend has grown at an average rate of 8.4% a year over the past five years.
- As of Oct 19, 2026, SmarterDividends' blended fair-value estimate for BAC is $63.43 per share, 24% above the $51.23 share price, so BAC screens as undervalued.
- Bank of America Corporation (BAC) pays its dividend quarterly, 4 times a year.
- Bank of America Corporation (BAC) has raised its regular dividend 34 times and cut it 2 times across the 162 payments on record since 1986. Its most recent change was a 14.3% increase to $0.320 per share, going ex-dividend on Sep 4, 2026. The last cut went ex-dividend on Mar 4, 2009.
- Bank of America (BAC) has declared its first higher dividend of the year in July in 5 of the last 5 years; its most recent raise, 14.3%, was declared on Jul 24, 2026.
Cite this page
SmarterDividends, "BAC Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 19, 2026, https://smarterdividends.com/stocks/BAC
Summary
As of Oct 19, 2026, Bank of America Corporation (BAC) yields 2.50% ($1.28 a year per share), has a dividend safety grade of A (87/100) and has 12 consecutive years of dividend increases on record.
Is BAC a good dividend stock?
YesBank of America Corporation (BAC) pays a quarterly dividend yielding 2.50% ($1.28/yr), with 12 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Advantages
- 12 consecutive years of dividend growth
- Comfortable payout ratio (26%)
- Strong 8.4% 5-yr dividend growth
- Top-tier dividend safety score
Risks
- Cut its dividend in 2009
Key Data
- Dividend Yield
- 2.50%
- Payout Ratio
- 26%
- Annual Dividend
- $1.28
- 5-Yr Avg Growth
- 8.4%
- Ex-Dividend Date
- Sep 4, 2026
- Years of Growth
- 12
- Frequency
- quarterly
- Beta
- 1.21
- Market Cap
- $358.2B
- P/E Ratio
- 12.2
- 5-Yr Total Return
- 15%
- 52-Week Range
- $46.12 – $65.23
- Dividend Safety
- A · 87/100
- Ever Cut?
- Yes (2009)
BAC dividend raises and cuts
Bank of America Corporation (BAC) has raised its regular dividend 34 times and cut it 2 times across the 162 payments on record since 1986. Its most recent change was a 14.3% increase to $0.320 per share, going ex-dividend on Sep 4, 2026. The last cut went ex-dividend on Mar 4, 2009.
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Sep 4, 2026 | Raise | $0.280 → $0.320 | +14.3% |
| Sep 5, 2025 | Raise | $0.260 → $0.280 | +7.7% |
| Sep 6, 2024 | Raise | $0.240 → $0.260 | +8.3% |
| Aug 31, 2023 | Raise | $0.220 → $0.240 | +9.1% |
| Sep 1, 2022 | Raise | $0.210 → $0.220 | +4.8% |
| Sep 2, 2021 | Raise | $0.180 → $0.210 | +16.7% |
| Sep 5, 2019 | Raise | $0.150 → $0.180 | +20.0% |
| Sep 6, 2018 | Raise | $0.120 → $0.150 | +25.0% |
| Aug 30, 2017 | Raise | $0.0750 → $0.120 | +60.0% |
| Aug 31, 2016 | Raise | $0.0500 → $0.0750 | +50.0% |
| Sep 3, 2014 | Raise | $0.0100 → $0.0500 | +400.0% |
| Mar 4, 2009 | Cut | $0.320 → $0.0100 | −96.9% |
Show all 36 changes since 1986
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Dec 3, 2008 | Cut | $0.640 → $0.320 | −50.0% |
| Sep 5, 2007 | Raise | $0.560 → $0.640 | +14.3% |
| Aug 30, 2006 | Raise | $0.500 → $0.560 | +12.0% |
| Aug 31, 2005 | Raise | $0.450 → $0.500 | +11.1% |
| Sep 1, 2004 | Raise | $0.400 → $0.450 | +12.5% |
| Sep 3, 2003 | Raise | $0.320 → $0.400 | +25.0% |
| Dec 4, 2002 | Raise | $0.300 → $0.320 | +6.7% |
| Dec 5, 2001 | Raise | $0.280 → $0.300 | +7.1% |
| Nov 29, 2000 | Raise | $0.250 → $0.280 | +12.0% |
| Dec 1, 1999 | Raise | $0.225 → $0.250 | +11.1% |
| Dec 2, 1998 | Raise | $0.190 → $0.225 | +18.4% |
| Dec 3, 1997 | Raise | $0.165 → $0.190 | +15.2% |
| Dec 4, 1996 | Raise | $0.145 → $0.165 | +13.8% |
| Nov 29, 1995 | Raise | $0.125 → $0.145 | +16.0% |
| Nov 28, 1994 | Raise | $0.115 → $0.125 | +8.7% |
| Feb 28, 1994 | Raise | $0.105 → $0.115 | +9.5% |
| Aug 30, 1993 | Raise | $0.100 → $0.105 | +5.0% |
| Nov 30, 1992 | Raise | $0.0925 → $0.100 | +8.1% |
| Dec 3, 1990 | Raise | $0.0875 → $0.0925 | +5.7% |
| Feb 26, 1990 | Raise | $0.0750 → $0.0875 | +16.7% |
| Aug 28, 1989 | Raise | $0.0625 → $0.0750 | +20.0% |
| Nov 28, 1988 | Raise | $0.0575 → $0.0625 | +8.7% |
| Nov 30, 1987 | Raise | $0.0525 → $0.0575 | +9.5% |
| Dec 1, 1986 | Raise | $0.0475 → $0.0525 | +10.5% |
Frequently Asked Questions
Is BAC a good dividend stock?
Yes. Bank of America Corporation (BAC) pays a quarterly dividend yielding 2.50% ($1.28/yr), with 12 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Is BAC undervalued?
Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, BAC's fair value is about $63.43 versus a $51.23 share price — so it looks undervalued (+24% vs. fair value).
Is BAC's dividend safe?
BAC has a dividend-safety grade of A (87/100), based on its payout coverage, free-cash-flow, 12-year growth streak, a dividend cut in 2009, debt and yield-versus-history.
What is BAC's fair value?
Our blended fair-value estimate for BAC is about $63.43 per share, roughly 24% above the current $51.23 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.
Is BAC a buy, hold, or sell?
We don't issue formal ratings, but on the data BAC screens as "yes" and undervalued. Bank of America Corporation (BAC) pays a quarterly dividend yielding 2.50% ($1.28/yr), with 12 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding. This is research for your own analysis, not investment advice.
Will BAC cut its dividend?
BAC earns a dividend-safety grade of A (87/100), and has cut its dividend before (last in 2009). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.
Does BAC pay a dividend?
Yes. Bank of America Corporation pays a quarterly dividend of about $1.28 per share annually, a forward yield of roughly 2.50%.
What is BAC's dividend yield?
As of Oct 19, 2026, BAC's forward dividend yield is 2.50%, based on a $1.28 annual dividend and a $51.23 share price.
What is BAC's dividend per share?
As of Oct 19, 2026, BAC pays $1.28 per share per year, distributed on a quarterly basis.
What is BAC's dividend payout ratio?
As of Oct 19, 2026, BAC's payout ratio is 26% of trailing 12-month earnings — a comfortable level that leaves room to keep raising the dividend.
How many years has BAC grown its dividend?
As of Oct 19, 2026, BAC has increased its dividend for 12 consecutive years.
When is the next BAC ex-dividend date?
As of Oct 19, 2026, BAC's next ex-dividend date hasn't been announced. The most recent was Sep 4, 2026, for $0.32 per share.
BAC Price — Last 12 Months
Daily close
Price Return
1 Year
-5%
3 Years
+68%
5 Years
+15%
52-Week Range
$46.12 – $65.23
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is BAC worth?
Undervaluedlow confidenceOur blended fair-value estimate for Bank of America Corporation is $63.43 per share, versus a market price of $51.23. That implies 24% of upside — a margin of safety of about 19%.
Fair Value
$63.43
Current Price
$51.23
Upside
+24%
Margin of Safety
19%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
Assumptions: 10.4% discount rate (CAPM), 12.0% growth for five years fading to 2.5% over the next five, $4.19 EPS, $1.28 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
BAC Dividend Safety Score
Very Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
Full BAC dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 4, 2026 | Sep 25, 2026 | $0.3200 | regular |
| Jun 5, 2026 | Jun 26, 2026 | $0.2800 | regular |
| Mar 6, 2026 | Mar 27, 2026 | $0.2800 | regular |
| Dec 5, 2025 | Dec 26, 2025 | $0.2800 | regular |
| Sep 5, 2025 | Sep 26, 2025 | $0.2800 | regular |
| Jun 6, 2025 | Jun 27, 2025 | $0.2600 | regular |
| Mar 7, 2025 | Mar 28, 2025 | $0.2600 | regular |
| Dec 6, 2024 | Dec 27, 2024 | $0.2600 | regular |
| Sep 6, 2024 | Sep 27, 2024 | $0.2600 | regular |
| Jun 7, 2024 | Jun 28, 2024 | $0.2400 | regular |
| Feb 29, 2024 | Mar 29, 2024 | $0.2400 | regular |
| Nov 30, 2023 | Dec 29, 2023 | $0.2400 | regular |
| Aug 31, 2023 | Sep 29, 2023 | $0.2400 | regular |
| Jun 1, 2023 | Jun 30, 2023 | $0.2200 | regular |
Income Calculator
At $1.28 / yr per share
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