BAC-PL Preferred Stock — Bank of America Dep Shs Rep 1/1000th 5.375% Non-Cum Preferred Series L

Bank of America Dep Shs Rep 1/1000th 5.375% Non-Cum Preferred Series L (BAC-PL)

BAC-PL is a Preferred Stock. its distribution rate is 5.80%, its trailing-12-month yield is 5.79%. Dividend Vision Distribution Safety Score™ is 97/100 (Safe). Total return is 274.7% over the past 18.6 years, 417.8 points behind SPY at 692.5%.

At the current 5.80% distribution rate, a $10,000 investment would generate approximately $580 per year, or about $145.00 per quarter if the next payment matches the last regular one.

Bank of America is a major financial services company operating consumer banking, wealth management, corporate lending, and capital markets businesses across four primary segments. This preferred equity security offers a fixed quarterly distribution rate and ranks senior to common equity in the capital structure but subordinate to debt. The security appeals to income-focused investors seeking regular distributions with higher yield potential than Bank of America's common stock.

BAC-PL performance versus SPY

Price and return data through 2026-09-21.

Total return is 274.7% over the past 18.6 years, 417.8 points behind SPY at 692.5%. Over the past year its total return — price change plus distributions reinvested — is 3.0%. Its deepest 1-year drawdown was 5.8%.

BAC-PL key facts

Distribution Safety Score™

97 · Safe

Safety-Adjusted Yield

5.63%

Issuer

Bank of America

Asset type

Preferred Stock

Asset class

Equity

Distribution rate

5.80%

Distribution frequency

Quarterly

Trailing yield

5.79%

5-year average yield

5.81

Last close

$1,253.00 (as of 2026-09-21)

Market cap

$241,314,086,912

Average volume

2464.0

Last dividend

$18.125

Last ex-dividend date

07/01/2026

Last payment date

07/30/2026

Beta

1.164

Payout ratio

0.0

P/E ratio

360.7428

Forward P/E

0.0

EPS

$3.51

How Dividend Vision calculates yield and returns

Distribution rate (5.80%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (5.79%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Bank of America or company page; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

BAC-PL risks and drawbacks

Payments are quarterly, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 5.8%.

Who may consider BAC-PL — and who may not

BAC-PL may suit someone looking for a high Distribution Safety Score, moderate current income with a quality tilt. It is a weaker fit for investors who need monthly cash flow (BAC-PL pays quarterly); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Frequently asked questions

More securities from Bank of America.