Today the Federal Reserve indicated to Regions
Financial Corporation (NYSE:RF) that it does not object to the
company’s capital plan and proposed capital actions for the second
quarter of 2015 through the second quarter of 2016. The capital plan was
submitted to the Federal Reserve as part of the Comprehensive Capital
Analysis and Review (CCAR).
Actions that Regions may undertake as outlined in its capital plan
include increasing the quarterly common dividend to $0.06 per share and
the repurchase of up to $875 million in common shares. The capital plan
also provides the potential for a subsequent dividend increase beginning
in the second quarter of 2016, which is expected to be considered by the
Regions Board of Directors in early 2016.
“The outcome of the capital plan review demonstrates the continued
strength of our company and our commitment to both growing our business
and increasing our capital return to shareholders,” said Grayson Hall,
chairman, president and CEO.
Regions’ ongoing and robust capital planning process is designed to
ensure the efficient use of capital while maintaining a long-term
approach to capital allocation and distribution consistent with the
company’s strategic priorities. These proposed capital actions are
subject to approval by the Regions Board of Directors and consideration
of other factors, including general market conditions.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $120 billion in assets, is
a member of the S&P 500 Index and is one of the nation’s largest
full-service providers of consumer and commercial banking, wealth
management, mortgage, and insurance products and services. Regions
serves customers in 16 states across the South, Midwest and Texas, and
through its subsidiary, Regions Bank, operates approximately 1,650
banking offices and 2,000 ATMs. Additional information about Regions and
its full line of products and services can be found at www.regions.com.
Copyright Business Wire 2015