Hang on Guys! Where can you get a better dividend than this. This dividend prvents the stock from declining further. It is common sense.
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.
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.