Under News Releases is "RF announces CCAR results." Bottom line is summarized as: "In addition to continuing the $0.065 quarterly common stock dividend which Regions’ Board of Directors approved in May, actions that Regions may undertake as outlined in its capital plan include the repurchase of up to $640 million in common shares. The capital plan also provides the potential for a dividend increase beginning in the second quarter of 2017, which is expected to be considered by the Regions Board of Directors in early 2017."
If they repurchase at that amount, that's a 6% repurchase, which provides headroom for the share price to increase substantially without getting the P/E out of its historical range. And In my opinion, that's a better use of capital at this time than another dividend increase. Patient, thoughtful, long-term buy and hold investors will be rewarded and sleep well.