The decision follows the Federal Reserve’s latest stress test, which cleared the path for several major financial institutions to bolster their shareholder return programs. Bank of America’s move aligns with a broader industry trend of boosting payouts after regulators confirmed the sector's resilience.

This dividend adjustment comes on the heels of a robust financial report earlier this month. The bank surpassed Wall Street profit expectations, buoyed by a surge in investment banking activity and record-breaking trading volumes during a period of sustained global market volatility.