On Friday, Shares of Bank of America Corporation (NYSE:BAC), lost -1.21% to $17.17.
Bank of America Corporation, declared the Board of Directors authorized a regular quarterly cash dividend of $18.125 per share on the 7.25 percent Non-Cumulative Perpetual Convertible Preferred Stock, Series L. The dividend is payable on July 30 to shareholders of record as of July 1.
The board also authorized a regular quarterly cash dividend of $0.40625 per depositary share on the 6.50 percent Non-Cumulative Preferred Stock, Series Y. The dividend is payable on July 27 to shareholders of record as of July 1.
Bank of America Corporation, through its auxiliaries, provides banking and financial products and services for individual consumers, small and middle market businesses, institutional investors, large corporations, and governments worldwide.
Shares of American International Group, Inc. (NYSE:AIG), declined -0.74% to $61.83, during its last trading session.
On June 16, American International Group, declared that it has repriced AG Select-a-Term, the flagship term product issued by American General Life Insurance Company (AGL) and The United States Life Insurance Company in the City of New York (U.S. Life).
For the New York-issued product, nearly 97 percent of premium rates rank in the top three in popular durations and risk classes; nearly 80 percent of the time, they rank number one. Nationally, more than 90 percent of premium rates for AG Select-a-Term rank in the top three in popular durations and risk classes, and nearly 65 percent of the premium rates rank number one. In addition, AGL and U.S. Life will soon declare substantial underwriting changes to give distribution partners and customers more competitive offers – in less time.
“American consumers and companies need life insurance protection, and with the significant, competitive rate improvements for AG Select-a-Term, they now have the opportunity to purchase the amount of coverage they need at market-leading prices,” said Rod Rishel, U.S. Head of Life Insurance, AIG Consumer Insurance. “Furthermore, this term insurance solution offers great customization: what we call Optionality.”
AG Select-a-Term features a unique mix of flexibility and reach: guaranteed level term coverage for 17 durations, counting 10-year and 15- through 30-year terms. Issue ages and durations make coverage accessible until age 95 for older clients. AG Select-a-Term remains convertible to the earlier of age 70 or the end of the level term period.
American International Group, Inc. provides insurance products and services for commercial, institutional, and individual customers in the United States, the Asia Pacific, and internationally. The company’s Commercial Insurance segment offers general liability, commercial automobile liability, workers’ compensation, excess casualty, and crisis administration causality insurance products.
Finally, ICICI Bank Ltd. (NYSE:IBN), ended its last trade with -0.10% loss, and closed at $10.28, as financial stocks were lower Friday’s afternoon with the NYSE Financial Sector Index falling 0.6% and the S&P Financial 100 Index declining 0.7%.
ICICI Bank Limited, together with its auxiliaries, provides banking and financial services in India and internationally. The company operates through Retail Banking, Wholesale Banking, Treasury, Other Banking, Life Insurance, General Insurance, and Others segments.
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