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BB&T Corporation Message Board

  • tamflyer tamflyer Apr 18, 2009 2:43 PM Flag

    Mr King's Comments on Dividend from Conf Call

    Copied verbatim from the transcript available at Seeking Alpha or BBT website...........

    "Now a comment with regard to dividends, as you know we declared a $0.47 dividend in February. We’re pleased that we covered that with GAAP earnings in the first quarter. As you all know, the dividend issue is a tough issue for us. We have over 60% of our shareholders are retail, many of them have lived on our dividends substantially for a long time. We have a long history of paying a dividend and a long history of increasing our dividend, so it’s just a very, very tough issue for us.

    There are many factors that our board will have to consider as we make the next decision. Certainly one of those is the economic projections in terms of what’s going on and certainly recognizing that there still continues to be while some green shoots economic deterioration. Our desire to remain capital strong through the whole process.

    Certainly the board has to consider the issue of regulatory and governmental uncertainties. And certainly in our capital planner we have to consider our strong desire to pay off CPP. So the board will be considering all of these factors and deciding this quarter’s dividend decision and obviously we will let all of you know at the same time whenever that decision is made."

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    • Thanks for getting it verbatim. My summary was:

      KK said the dividend would be evaluated by the board no later than June. As always, he noted the importance of the dividend to the retail investors who own about 60% of BBT. He also noted that the dividend would be influenced by regulatory requirements/influence, TARP, and the overall business environment.

      I think I got the gist of it. Why the attack by you on the other string?

      • 1 Reply to matollionequay
      • Yes Sir, you definitely gave a very accurate summary in your previous post.

        My "attack" was certainly not intended for you, but was in reply to rpmusic 2002 who posted this gem just above you:
        "They stated it will remain intact at .47 share".

        Sorry for the confusing way Yahoo displays replies...no offense certainly intended to you, and in retrospect, I wish I had just ignored rpmusic's totally inaccurate information

        Best Regards

 
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