BB&T hikes common-share dividend by 4.3%
BLOOMBERG
BB&T Corp. (NYSE:BBT), based in Winston-Salem, is the nation’s 12th-largest bank and is third-largest in the Charlotte market by local deposits.
BB&T[5] Corp. (NYSE:BBT) announced on Tuesday that its board of directors has approved a penny increase in its regular quarterly dividend for common shareholders[6].
The 4.3 percent increase brings Winston-Salem-based BB&T's dividend to 24 cents per common share. It is payable on June 2 to shareholders of record on May 16.
"We are pleased to provide a dividend increase to our common stock shareholders," Chairman and CEO Kelly King[7] said in a news release. "The increase follows the recent review of our capital plan, which received no objection from bank regulators. We remain committed to providing strong long-term returns to our shareholders."
The announcement comes as Bank of America[8] Corp. (NYSE:BAC) is reeling from its decision to suspend its dividend increase and share repurchase plan after discovering a $4 billion accounting error[9]. That mistake dates back to 2009 and has been repeated year after year, missed by the Charlotte-based bank's accountants as well as external auditors and federal regulators since then.
Jen Wilson coordinates the Charlotte Business Journal's online operations and social-media efforts, chronicles local events for CBJ Seen and takes photographs.
References
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- ^ BB&T (www.bizjournals.com)
- ^ its board of directors has approved a penny increase in its regular quarterly dividend for common shareholders (www.bizjournals.com)
- ^ Kelly King (feeds.bizjournals.com)
- ^ Bank of America (www.bizjournals.com)
- ^ its decision to suspend its dividend increase and share repurchase plan after discovering a $4 billion accounting error (www.bizjournals.com)