BAC div or share buyback in 2013?

[wescobrk]

It's possible the regulators only allow a modest buyback or dividend but not both. I sure hope Moynihan would buy back stock and not pay out a ten cent dividend.

I'm sure by 2014 the regulators would allow a pretty substantial buyback and dividend by that time. Anyone worried Moynihan may go with the dividend if the regulators make him choose?

[Parsad]

If the stock is below tangible book, then buybacks make sense.  If the stock starts to get closer to book, and most certainly if it is higher, then dividends would be the better choice.  Cheers!