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  • dsquared24112 dsquared24112 Feb 10, 2009 2:50 PM Flag

    Dividend Cut?

    I don't consider this old news unless you are a board member that knew of the possibility prior to them meeting just hours ago....

    Here is where I got my fact from.

    SunTrust Declares Quarterly Dividend
    61 minutes ago - Pr Newswire

    Related Companies
    Symbol Last %Chg
    STI 9.29 -25.33%

    As of 2:48 PM ET 2/10/09
    The Board of Directors of SunTrust Banks, Inc. (NYSE: STI) today declared a regular quarterly cash dividend of $0.10 per common share. The dividend is payable on March 16, 2009, to shareholders of record on March 2, 2009, and reflects the previously announced reduction in the dividend from $0.54 in the previous quarter.

    SunTrust noted that it will also pay to the U.S. Treasury approximately $60 million in dividends on the Company's Perpetual Preferred Stock, Series C and D, which was purchased under the Capital Purchase Program.

    The Board of Directors also announced a quarterly cash dividend of $1,000.00 per share on SunTrust's Perpetual Preferred Stock, Series A, declared payable in cash on March 16, 2009, to shareholders of record at the close of business on March 2, 2009.

    SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of December 31, 2008, SunTrust had total assets of $189.3 billion and total deposits of $113.4 billion. The Company operates an extensive branch and ATM network throughout the high- growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and capital markets services. SunTrust's Internet address is suntrust.com.

    SOURCE SunTrust Banks, Inc.

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