Bank of America's Preferred Stock, Series L Yield Pushes Past 6%

In trading on Thursday, shares of Bank of America Corp's 7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L (BAC. RL) were yielding above the 6% mark based on its quarterly dividend (annualized to $72.50), with shares changing hands as low as $1195.51 on the day.