BankAmerica Declares Quarterly Dividends.SAN FRANCISCO--(BUSINESS WIRE)--Nov. 4, 1996--BankAmerica Corporation (NYSE NYSE See: New York Stock Exchange :BAC BAC abbr. blood alcohol concentration ) today announced that its Board of Directors has declared a quarterly common stock dividend of $0.54 per share, unchanged from the previous quarter. The dividend is payable on December 12, 1996 to shareholders of record on November 20, 1996. The directors also declared the following quarterly dividends on BankAmerica's preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. , payable on November 30, 1996 to shareholders of record on November 15, 1996: $0.8125 per share for Series A preferred stock; $1.50 per share for Series B preferred stock; $0.5625 per share Series H preferred stock; $0.52344 per share for Series K preferred stock; $10.20 per share for Series L preferred stock; $9.84375 per share for Series M preferred stock; $10.625 per share for Series N preferred stock. Each holder of a depositary DEPOSITARY, contracts. He with whom a deposit is confided or made. 2. It is, the essence of the contract of deposits that it should be gratuitous on the part 'of the depositary. 9 M. R. 470. share of Preferred Series L, M, or N is entitled to receive one-twentieth of the declared dividend declared dividend A dividend authorized by a firm's board of directors. At the time a dividend is declared, the firm creates a liability for the dividend's payment. . CONTACT: BankAmerica Peter Magnani, 415/953-2418 |
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