BB&T declares 23-cent first-quarter dividend and aligns payment dates for common dividends
Dividend reflects 15% increase compared to fourth quarter
WINSTON-SALEM, N.C., Jan. 22, 2013 /PRNewswire/ -- The board of directors of BB&T Corporation (NYSE: BBT) today declared a quarterly dividend of $0.23 per common share payable March 1, 2013, to shareholders of record at the close of business on Feb. 8, 2013.
This dividend follows the fourth-quarter 2012 dividend of $0.20 per common share payable Feb. 1, 2013, to shareholders of record at the close of business on Jan. 4, 2013, which was declared by the board of directors on Dec. 18, 2012.
The dividend is being paid consistent with the capital actions proposed in BB&T's 2012 capital plan. The Federal Reserve informed BB&T last year that it would not object to any of BB&T's proposed capital actions for 2012, which included this dividend.
BB&T's board of directors also acted today to align scheduled common dividend payment dates to occur in the same quarter the dividends are declared. Going forward, BB&T expects common dividend declarations, if declared, in January, April, July and October with payment dates on or about the first of March, June, September and December.
BB&T has approximately 700 million shares of common stock outstanding at Dec. 31, 2012. BB&T has paid a cash dividend to shareholders of common stock every year since 1903.
As of Dec. 31, 2012, BB&T is one of the largest financial services holding companies in the U.S. with $183.9 billion in assets and market capitalization of $20.4 billion. Based in Winston-Salem, N.C., the company operates 1,832 financial centers in 12 states and Washington, D.C., and offers a full range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services. A Fortune 500 company, BB&T is consistently recognized for outstanding client satisfaction by J.D. Power and Associates, the U.S. Small Business Administration, Greenwich Associates and others. More information about BB&T and its full line of products and services is available at www.BBT.com.
SOURCE BB&T Corporation
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