On January 16, 2026, Bank of America’s Board of Directors authorized regular cash dividends on 15 series of preferred stock, with payment dates spanning February 17 through March 25. Series E depositary shares will receive $0.28516 per share on February 17, following a January 30 record date. Series F and G holders will each receive $1,096.20250 per share on March 16, based on a February 27 record date. Other floating-rate series (1, 2 and 4) will be paid between February 23 and 27, with per-share amounts ranging from $0.30025 to $0.30692. Fixed-to-floating series DD and FF will pay $31.50 and $29.375 per share semi-annually on March 10 and March 16, respectively. Remaining non-cumulative issues (GG, KK, LL, QQ and SS) carry stated rates of 6.00%, 5.375%, 5.00%, 4.25% and 4.75%, translating into dividends per share from $0.265625 to $0.375, with record dates in early March or February and payment dates through late March.

In the fourth quarter, Bank of America reported net income of $7.6 billion, up 12% year-over-year, driven by revenue growth of 7% to $28.4 billion. Net interest income expanded 10% to $15.9 billion on a fully taxable equivalent basis, supported by 8% loan growth ($1.17 trillion in average loans) and a seven-basis-point sequential improvement in net interest yield to 2.08%. Global Markets fees and sales & trading contributed $10.4 billion, up 10% year-over-year. Expenses rose 4% to $17.4 billion, yielding over 300 basis points of operating leverage, while headcount remained flat at approximately 213,000. The CET1 ratio was 11.4%, above regulatory minimums, and the bank returned $8.4 billion to shareholders through dividends and buybacks.

Total assets held steady at $3.4 trillion, as reductions in securities and cash offset loan growth. Deposits grew by $17 billion sequentially, facilitating a reduction in wholesale funding. The firm ended the quarter with $975 billion in average global liquidity sources. Net charge-offs declined to $1.3 billion, equating to a 44-basis-point charge-off ratio, down 10 basis points year-over-year. Commercial real estate losses moderated, and management reiterated a through-the-cycle net charge-off expectation of 50 to 55 basis points.

Management projected net interest income growth of 5% to 7% in 2026, assuming two rate cuts, and approximately 200 basis points of operating leverage. The effective tax rate is expected to be near 20%. Technology expenditure will increase 5% to 7% year-over-year, with AI initiatives representing several hundred million dollars and streamlining coding processes by 30%, equivalent to the productivity of roughly 2,000 full-time roles.