BB&T Joins the Dividend Increase Party

BB&T [[BBT]] announced on Friday that the bank stock is increasing their quarterly dividend by 7% to $.16 per share.

 

The bank didn’t want to be left out of the dividend increase party which included big dividend increases from JP Morgan and Wells Fargo.

 

Following the dividend increase, BBT stock will pay a current dividend yield of 2.4% based on Friday’s closing price.

 

The dividend increase includes a special dividend of $.01 per share as well as a regular increase of $.01 per share.

 

Chairman and CEO Kelly King commented on the dividend increase, “BB&T is pleased to provide this increase in our dividend and to be in the first group allowed to increase the dividend. We continue to be one of the strongest capitalized institutions in the industry and we believe this action confirms that strength.”

 

King continued, “We are proud to have maintained the fourth highest dividend yield among S&P 500 banks. We view this as a good first step to further increases in the future.”  

 

BB&T has a strong dividend history. The bank had increased their dividend for 37 consecutive years before being forced to cut their dividend in May 2009 in order to repay TARP.

The BB&T increased dividend will be paid on May 2, 2011 to shareholders of record as of April 8, 2011.

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There are 4 responses to BB&T Joins the Dividend Increase Party

  1. News Databank :: Latest News :: Bbt:
    March 21st, 2011 at 7:15 am

    […] BB&T Joins the Dividend Increase Party: BB&T announced on Friday that the bank stock is increasing their quarterly dividend by 7% to $.16 per share. – Readmore […]

  2. Little News » Blog Archive » Bbt:
    March 21st, 2011 at 7:17 am

    […] BB&T Joins the Dividend Increase Party: BB&T announced on Friday that the bank stock is increasing their quarterly dividend by 7% to $.16 per share. – Readmore […]

  3. Daily News » Blog Archive » Bbt:
    March 21st, 2011 at 7:18 am

    […] BB&T Joins the Dividend Increase Party: BB&T announced on Friday that the bank stock is increasing their quarterly dividend by 7% to $.16 per share. – Readmore […]

  4. Latest News » Blog Archive » Bbt:
    March 21st, 2011 at 7:23 am

    […] BB&T Joins the Dividend Increase Party: BB&T announced on Friday that the bank stock is increasing their quarterly dividend by 7% to $.16 per share. – Readmore […]

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