Bank of America increases dividend 14%

Today, Bank of America increased its dividend by 14%, here's what it means at $47.50 per share, Bank of America is giving you a yield of close to 5.4% or $2.56 per share you own. That is a spectacular yield and I believe shows managements strong belief in excellent times ahead. I was expecting 10 to 12% on the high side so 14% is really nice. BAC at these levels would make an excellent investment for those with a long term horizon.