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BB&T Corporation Message Board

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  • wigginsrd wigginsrd Apr 22, 2010 1:47 PM Flag

    Dividends?????

    "BB&T expects to increase its dividend in the third or fourth quarter of this year, Chief Executive Kelly King told analysts. The bank is also looking out for possible acquisition opportunities through the Federal Deposit Insurance Corp's auction process for failed banks." This as reported by Elinor Conlay of Reuters. It's gonna be announced at the Annunal Meeting on April 27, betcha it is.

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    • I am not certain of Elinor Conley of Reuters assertion; however, the following is what Kelly King said in the earnings transcript.

      "We didn’t get a question on the dividend so I’ll just make a comment about that. We are already contemplating the question of a dividend increase. We’ve said before we’ll consider that when we have clarity with regard to the economy, clarity with regard to our own assets and our cash flows. I’m feeling relatively optimistic about that. We’re not going to rush and try and be one of the first. Remember, we didn’t take ours way down to $0.01 like everyone else did. Some of the ones that are talking about raising it took it down to $0.01. I’d be talking real fast too if I took it to $0.01.

      We took ours to $0.15, you still got a 2% yield. But, nonetheless we think fourth quarterish, first quarterish is a time we can begin to think in terms of a small dividend increase. So all-in-all, we’re not cocky, we’re not calling it over. We think it’s a time to be calm and patient, stick to your niche but, feeling certainly more optimistic and certainly absolutely feel that our best days are ahead. Thanks for your support and hope you have a great day."

    • There you go - sort of like we all expected. Can't wait for the details!

 
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