Buffett's Berkshire on verge of becoming BofA's top shareholder

Buffett's Berkshire on verge of becoming BofA's top shareholder

Buffett's Berkshire on verge of becoming BofA's top shareholder

Bank of America on Wednesday boosted its annual dividend 60 percent to 48 cents per share from 30 cents, beginning in the third quarter. Buffett has said a boost of that size would likely prompt him to swap Berkshire's preferred shares in the second-largest bank into common shares now worth about $16.7 billion. Berkshire did not immediately respond to requests for comment.


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Citigroup boosts buybacks, dividends beyond Wall St expectations

Citigroup Inc (C.N) has been granted permission to return nearly $19 billion (14.7 billion pounds) of capital to shareholders after passing a tough regulatory test, a long-awaited victory for investors and Chief Executive Officer Michael Corbat. Citigroup, the fourth-largest U.S. bank by assets, on Wednesday said it plans to repurchase up to $15.6 billion of common stock over the next year and double its quarterly dividend to 32 cents per share, bringing total payouts to $18.9 billion. Analysts had expected Citigroup would win the right to increase payouts to roughly 1.12 percent of annual profits.


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