ATLANTA, Aug. 9, 2011 /PRNewswire/ -- The Board of Directors of SunTrust Banks, Inc. (NYSE: STI) today announced an increase in the dividend on SunTrust common stock. A quarterly cash dividend of $0.05 per common share was declared payable on September 15, 2011, to shareholders of record at the close of business on September 1, 2011.
The Board of Directors also declared a quarterly cash dividend of $1,022.22* per share on SunTrust's Perpetual Preferred Stock, Series A, payable in cash on September 15, 2011, to shareholders of record at the close of business on September 1, 2011.
SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of June 30, 2011, SunTrust had total assets of $172.2 billion and total deposits of $124.9 billion. The Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company also serves clients in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and investment banking services. SunTrust's Internet address is suntrust.com.
* Editor's Note: The preferred stock dividend has been rounded for reader convenience. The precise dividend is $1,022.22222222222.
SOURCE SunTrust Banks, Inc.