BB&T Corporation declares increase in dividend
Tuesday February 24, 4:15 pm ET
WINSTON-SALEM, N.C., Feb. 24 /PRNewswire-FirstCall/ -- The board of directors of BB&T Corporation (NYSE: BBT - News) today declared the 2009 second quarter dividend of $0.47 per share, a 2.2 percent increase over the $0.46 paid in the second quarter of 2008.
The dividend will be paid May 1 to shareholders of record as of April 10.
The 10-year compound growth rate for BB&T's quarterly dividend payment is 10.4 percent. BB&T has paid a cash dividend to shareholders every year since 1903. The corporation has increased its quarterly cash dividend payments for 37 consecutive years.
With $152 billion in assets, BB&T Corporation is the nation's 11th largest financial holding company. Founded in 1872, it operates more than 1,500 financial centers in 11 states and Washington, D.C. More information about BB&T Corporation is available at BBT.com.
BB&T took the TARP money and now they plan to increase the dividends again!!
Does anyone know if BB&T plan to return the TARP money, if not,they are using tax payer's money to reward shareholders and try to manipulate their stock price.
Totally awesome news! I am in awe, that it did not get cut.
Now for the really good news- what if they come out with a statement that next quarter is shaping up much better than their cautious expectations?
I would not want to be short this stock right now, and the shorts deserve to be crushed!
Bernanke sent out a letter saying that banks could not pay out a divvy greater than earnings after BBT announced their dividend increase. Looks to me like there is going to be a pissing match between BBT and the FED. If the consenus earnings are right, BBT is going to have to cut their divvy back to $0.33 a share, not increase it a penny. Looks to me like they are trying to make the FED take the blame. Not a very smart thing to do.