WINSTON-SALEM, N.C.,
March 11, 2015 /PRNewswire/ --
BB&T Corporation (NYSE: BBT) today announced the board of
governors of the Federal Reserve System accepted its capital plan
and did not object to its proposed capital actions.
The capital actions include a recommendation to increase the
quarterly dividend $0.03 to
$0.27, a 12.5% increase. This action
will be considered by the board at its April
27 meeting. The plan also incorporates other uses of capital
including the three announced acquisitions (Citi Texas branches,
The Bank of Kentucky and
Susquehanna Bancshares Inc.) and cumulative share buybacks of up to
$820 million beginning in the third
quarter of 2015.
"We are pleased to receive the Federal Reserve's non-objection
to move forward with our capital plan and to reward our
shareholders," said Chairman and Chief Executive Officer
Kelly S. King. "This demonstrates
BB&T's strength and our continued use of resources to benefit
our shareholders and grow our company in a way that supports our
communities and clients."
BB&T submitted its capital plan, approved by its board of
directors, to the Federal Reserve, FDIC and the North Carolina Commissioner of Banks in
January 2015 as part of the
Comprehensive Capital Analysis and Review of 31 bank holding
companies.
About BB&T
BB&T is one of the largest
financial services holding companies in the U.S. with $186.8 billion in assets and market
capitalization of $28.0 billion, as
of December 31, 2014. Based in
Winston-Salem, N.C., the company
operates 1,839 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 recognized consistently for
outstanding client satisfaction by 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 BBT.com.
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SOURCE BB&T Corporation