Boston, MA 09/29/2014 (wallstreetpr) – Bank of America Corp (NYSE:BAC) has possibly succeeded in luring investors with a series of recent and upcoming happenings. Firstly, it decided to aptly forego the potentially beneficial revenue, by dropping the net income that used to be notched up from additional debit card overdrafts and such other products.
Quarterly Dividend Payable Rise
BAC is deemed to trade ex-dividend in lieu of Non-Cumulative Perpetual Convertible Preferred Stock (Series L). The net quarterly dividend garnered for this quarter, amounting to $18.125 shall be payable till the end of the next month – 30.10.2014.
Analysts’ Expectations Surpassed
Moreover, Bank of America Corp (NYSE:BAC) also shared a detail about the annualized current yield that surpasses average expectation of analysts, viz. 5.50 percent, thus garnering a net yearly yield of 6.23%. The preferred shares are indeed convertible to liquid funds, and have net conversion ratio that cross 20!
Stability In Money Circulation
Meanwhile, to augment the stability of the money circulation and expansion system, Bank of America Corp (NYSE:BAC) chose to compromise on the $6 worth revenue that used to be garnered per annum from debit card overdrafts.
Minimize Sales Of Allied Products
Moreover, the bank opted to stop with the selling off credit card debt-cancellation and theft protection products, in a bid to wipe out the rather unpopular products. Such marketing strategies were deliberately dealt with, since Bank of America Corp (NYSE:BAC) had already had to pay a whopping $800 millions in a bid to address the allegations.
The Strategy Behind Footfalls
To bolster more footfalls, the Bank of America Corp (NYSE:BAC) opted to reduce the fees associated and associated up-selling income. Thus wiping off of unpopular and misleading advertisements and minimalizing of the factors, made BAC adorable amongst the user-base, in need! BAC proved that avariciousness in terms of squeezing more finances from the hands of users, would affect in deteriorating the net user base in the bigger picture!
Surveys and reviews project that out of the net debit-card users, a resounding majority (80%) voted even for transaction decline, showing how they detest the cult of paying more overdraft fee! Bank of America Corp (NYSE:BAC) must be innately focusing on cross selling majority of its products, in larger numbers, cajoling users to purchase more of the products available.