Bank of America announced a 25% dividend increase. The quarterly dividend is increased from $0,12 to $0,15. This means the yearly dividend per share is up from $0,48 to $0,60.
I own 43 shares of Bank of America. So this dividend increase will increase my yearly expected dividend income with $5,16. Yield on cost will increase from 1,84% to 2,30%.
Last year Bank of America already increased their dividend with 60% so the yield on cost is improving a lot for Bank of America.