Identifying and Analyzing Financial Statement Effects of Cash Dividends On its Form 10-K for the...
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Identifying and Analyzing Financial Statement Effects of Cash Dividends On its Form 10-K for the year ended December 31, 2015, Bank of America Corp. reported the following relating to dividends on its Series 5 Floating Rate Non-Cumulative Preferred stock.
Dividend Payment Date
Dividend Per Share
22-Feb-16
0.25556
23-Nov-15
0.25556
21-Aug-15
0.25556
21-May-15
0.24722
23-Feb-15
0.25556
There were 14,058 million shares of this preferred stock outstanding throughout the year. Determine the total dividends that Bank of America paid during fiscal 2015. Round answer to the nearest million.
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