Bank of America Renews $25 Billion Stock Repurchase Program

Bank of America Corp. said its board authorized another $25 billion stock repurchase program.

The second-largest US lender, which announced plans last month to boost its dividend after passing the Federal Reserve’s annual stress test, said the new program will take effect Aug. 1 — replacing the previous program of that size. The earlier one had $6.7 billion of remaining capacity at midyear.