Bank of America (BAC)

Bank of America Wednesday announced It will repay U.S. taxpayers their entire $45 billion investment provided under the Troubled Asset Relief Program (TARP). The repayment will be made after the completion of a securities offering. To date, Bank of America has paid $2.54 billion in dividends to the U.S. Treasury on the TARP investment. Repaying TARP will save the company approximately $3.6 billion in annual dividend costs from the TARP investment.
The move underscores the banking industry’s swift recovery from the financial crisis.

Dec 3 · 11:54:00 AM · Source: Company News Release
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by Larry Etter