Huntington Bancshares board raises dividend, approves stock repurchase program

Huntington announced two capital actions approved by the Board of Directors. First, they declared a quarterly cash dividend on the company’s common stock of 5c per common share. This represents a 1c per share, or 25%, increase from the prior quarter’s dividend. The dividend is payable July 1 to shareholders of record on June 17. Second, the Board also approved the repurchase of up to $227M of common stock. The new repurchase authorization represents a $45M, or 25%, increase from the recently completed common stock repurchase authorization. Both actions were proposed in the January capital plan, which received no objections from the Federal Reserve.