You want to explain why there is going to be a cut? This bank isn't involved in the mortgage mess. They don't have to raise capital or cut expenses. This bank has a long history of being very conservative. VERY. The payout is about 58% which is very much in line with their historic payout.
It is also common sense to not blindly assume that BBT's current dividend is not subject to a downward revision (think Citigroup; 5/3'd, etc) if BBT's board deems a dividend reduction to be warranted. I would not be at all surprised if BBT, does, in fact cut its dividend at a future date as part of a needed strategy to preserve capital.