SAN FRANCISCO (Thomson Financial) - Bank of America Corp. on Wednesday
approved a 75 million-share repurchase program, authorizing management to spend
up to $3.75 billion over the next 12 to 18 months.
The program replaces the expiring January 2007 buyback authorization of 200
million shares.
The Charlotte, N.C.-based banking giant also declared a regular quarterly
dividend of 64 cents a share, payable Sept. 26 to shareholders of record as of
Sept. 5.
Shares of Bank of America rose 1.6% to $32.85.
Gabriel Madway
gm
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