Bank of America Stock: A Closer Look at Recent Developments

Bank of America (BAC) plans to increase its dividend by 9%, pending board approval, from 22 cents per share to 24 cents per share starting in the third quarter. The bank is expected to report second-quarter earnings of 85 cents per share on revenue of $25.16 billion. BAC's stock closed slightly higher after the announcement, trading at $29.17 after hours.