Fed rejects BofA dividend hike plan: "(By Rick Rothacker, rrothacker@charlotteobserver.com) Bank of America Corp. today said the Federal Reserve rejected its plan for a modest dividend increase in the second half of the year, even as other large banks are hiking dividends in the first half of the year.
The Charlotte bank said in a securities filing that it will continue to work with the Fed and plans to resubmit a revised capital plan that would again call for a modest increase in the quarterly dividend, now at 1 cent per share."