This is the first dividend increase since Harley-Davidson reduced their dividend by 70% in early 2009.
BB&T announced on Friday that the bank stock is increasing their quarterly dividend by 7% to $.16 per share.
Regis Corporation announced today that the company is raising their quarterly dividend by 50% to $.06 per share.
The bank reported a fourth quarter loss of $1.6 billion, but Moynihan believes the company will be in a position to increase their dividend later this year.
Cracker Barrel announced plans on Friday to increase their quarterly dividend by 10 percent to $.22 per share.
The highest yielding S&P 500 stock announced on Friday that they will cut their dividend beginning in September.
This marks the 43rd consecutive year that the dividend aristocrat has increased their dividend.
Fitch Ratings believes that BP's dividend is safe despite the widespread speculation of an imminent dividend cut.