BB&T Increase Dividend Payment For 37th Consecutive Year

BB&T Corp (BBT: 29.42 -0.78%) announced they are increasing their quarterly dividend payment from $.46 per share to $.47 per share. The dividend will be payable on May 1, 2009 to shareholders of record as of April 10, 2009.

 

The dividend increase represents the 37^th consecutive year the company has raised its dividend payments. The current dividend yield now stands at 11.9%.

 

Wall Street reacted negatively to the news, with shares down 6.5% to $15.75 in morning trading. The stock has already fallen 43% since the beginning of the year.

 

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