Bank of America Corporation, the second-largest U.S. bank, announced a regular quarterly cash dividend of 18 cents per common share on Wednesday.

The dividend is payable on Dec. 24 to all shareholders of record as of Dec. 4.

The bank also declared a regular quarterly cash dividend of $1.75 per share on the 7 percent Cumulative Redeemable Preferred Stock, Series B. That dividend is payable Jan. 25 to all shareholders of record as of Jan. 11.

The announcement comes after the company posted lower-than-expected third-quarter revenue last week, driven by pressure from low interest rates.

Bank of America shares (BAC) were trading up 1.39 percent, or 34 cents, at $24.39 per share.