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BB&T CORP. TRUST VI ENHANCED T Message Board

  • turnip3333 turnip3333 Mar 14, 2012 9:32 AM Flag

    is this being called?

    I read several reports that said so.

    This sucks, only because I bought above 25$.

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    • $26.74 and it will be called at $25, as per the company. Am I missing something?

    • The Federal Reserve also did not object to BB&Ts plans to redeem $3.2 billion of trust preferred securities beginning in 2012 without issuing any replacement capital. BB&T has also successfully deployed capital in 2012 through the planned acquisitions of BankAtlantic, which will add $2.1 billion in loans and $3.3 billion in core low-cost deposits, and Crump Insurance, which will add $300 million in noninterest revenues in its first full year following the acquisition. These transactions are both accretive to BB&Ts earnings, creating shareholder value.

      This was from their press release yesterday.

      We may elect to redeem any or all of the junior subordinated debentures at any time on or after August 1, 2014 at 100% of their principal amount plus accrued and unpaid interest to the date of redemption.

      The above was from the registration for the securities so the first time they can be called is in 2 1/2 years so still some interest left to receive.

      • 1 Reply to barnold24
      • Part of press release from BBT website.

        March 13, 2012

        BB&T increases dividend 25%

        WINSTON-SALEM, N.C. The board of directors of BB&T Corporation (NYSE: BBT) today declared a 2012 second-quarter dividend of $0.20 per share, a 4-cent increase from the $0.16 dividend previously announced for the second quarter on Feb. 21, and from the dividend paid in the first quarter. At this quarterly rate, the annual dividend is equivalent to $0.80 per common share. The $0.20 dividend represents a 25% increase over last years quarterly dividend.

        We are pleased to provide this substantial dividend increase to our shareholders and are committed to a robust dividend payout, said Chairman and CEO Kelly S. King. We continue to be one of the strongest capitalized institutions in the industry and believe our 2012 capital actions confirm that strength and our commitment to our shareholders. BB&T also remains among industry leaders in dividend yield among S&P 500 banks.

        The Federal Reserve also did not object to BB&Ts plans to redeem $3.2 billion of trust preferred securities beginning in 2012 without issuing any replacement capital. BB&T has also successfully deployed capital in 2012 through the planned acquisitions of BankAtlantic, which will add $2.1 billion in loans and $3.3 billion in core low-cost deposits, and Crump Insurance, which will add $300 million in noninterest revenues in its first full year following the acquisition. These transactions are both accretive to BB&Ts earnings, creating shareholder value.

        The dividend will be paid May 1, 2012, to shareholders of record as of April 9, 2012. BB&T has one of the strongest dividend payouts in the country for banks and has paid a cash dividend to shareholders every year since 1903. The company has approximately 697 million shares outstanding.



        For more information contact:
        ANALYSTS:
        Alan Greer
        Executive Vice President
        Investor Relations
        (336) 733-3021

        Tamera Gjesdal
        Senior Vice President
        Investor Relations
        (336) 733-3058
        Media Contact:
        Cynthia Williams, 336-733-1478
        Executive Vice President, Corporate Communications

        So yes they plan to call them starting in 2012 and are able to do so under the new banking laws.

        This is the wording from the prospectus. Notice the word BEFORE - my CAPS added

        We may redeem the junior subordinated debentures before August 1, 2014 if there is a challenge to their tax characterization or certain other events occur.

        We may redeem any or all of the junior subordinated debentures at any time on or after August 1, 2014 and we may elect to redeem all, but not less than all, of the junior subordinated debentures BEFORE August 1, 2014 if certain changes occur relating to the capital treatment or tax treatment of the capital securities,

    • I read that the bank said it will be called but they didn't say when. Better do some serious DD to confirm that, I got the info on a message board.

 

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