Shares of Bank of America Corporation (BAC) will begin trading ex-dividend on Wednesday, Nov. 30. To qualify for a dividend check, investors must have owned Bank of America shares prior to Wednesday, which is the day the company's management will finalize its roster of shareholders to whom it will mail payments. 

Bank of America stock closed Tuesday at $20.30, down 2.68%. The shares have risen 20.56% year to date, including gains of 21.64% in the past 30 days. This compares with a 7.86% year-to-date rise in the S&P 500 (SPX) index. Bank of America stock has risen 16% over the past 12 months, while the S&P 500 has risen 4.45%. (See also: Bank of America Could Head Much Higher in 2017.)

In its third quarter earnings results, reported in October, the Charlotte, N.C.-based bank posted net income of $4.96 billion, or earnings per share of 41 cents, on revenue of $21.635 billion. Both measures surpassed analysts' estimates of 34 cents per share and revenue of $20.965 billion, according to Thomson Reuters. On a year-over-year basis, earnings climbed 11% from the 37 cents earned a year earlier, while revenue grew 3.5%. 

Combined with a 3.3% decline in third quarter expenses, driven by management's efforts to curb costs in a slow-growth and low interest rate environment, Bank of America posted a solid quarter from top to bottom, suggesting that the stock's new popularity has been fueled by more than just Donald Trump's surprise victory for the White House. (See also: Bank of America Boosted by Expected Rate Hike.)

Based on Tuesday's closing price of $20.30, Bank of America's 7.5-cent per share quarterly dividend yields 1.44% annually, or about 56 basis points below the 2.00% average yield of the S&P 500 index. Bank of America will send its dividend payment on Dec. 30 to shareholders of record as of Dec. 2. The stock has a consensus Buy rating and an average analyst 12-month price target of $18.70, implying a decline of 8% from current levels.