Tuesday, April 29, 2014

BB&T increases dividend 4 percent

BB&T announced Tuesday that it is increasing its quarterly dividend by 4.3 percent, or a penny per share, to 24 cents.

The move comes after federal regulators approved the Winston-Salem bank's capital plan last month. At the time, BB&T said it got the go-ahead for a "conservative increase."

"We are pleased to provide a dividend increase to our common stock shareholders," CEO Kelly King said in a statement Tuesday. "We remain committed to providing strong long-term returns to our shareholders."

Bank of America had planned to increase its dividend from 1 cent to 5 cents, but suspended those plans this week after disclosing it miscalculated its capital ratio.