BANKING & FINANCE - Feb. 7, 1995

BankAmerica Corp. Raises Dividend, Announces Stock Buyback: The San Francisco-based parent of Bank of America announced a 15% increase in the dividend on the company’s common stock, to 46 cents a share from 40 cents a share. It also announced a stock repurchase plan to buy back about $1.9 billion of common stock and buy back or redeem about $500 million of preferred stock by the end of 1997. “We believe that BankAmerica is generating capital at a rate in excess of the capital requirements needed to support current investment opportunities,” Chairman Richard M. Rosenberg said in a statement. BankAmerica stock closed at $46.375 a share, up 62.5 cents, on the New York Stock Exchange.