PR Newswire
WINSTON-SALEM, N.C., June 28, 2017
WINSTON-SALEM, N.C., June 28, 2017 /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
$0.33,
a 10-percent increase. This action will be considered by the board at its July 25 meeting. The plan
also incorporates other uses of capital including capital distributions of up to $1.88 billion in
share repurchase transactions beginning in the third quarter of 2017.
"We are pleased to receive the Federal Reserve's non-objection to our plan to increase dividends and authorize a share
repurchase program," said Chairman and Chief Executive Officer Kelly S. King. "This allows us to
provide one of the strongest dividend payouts among regional banks. It also demonstrates BB&T's continued capital strength
and our commitment to serving our clients and communities as we generate long-term benefits for our shareholders."
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 April 2017 as part of the
Comprehensive Capital Analysis and Review of 34 bank holding companies.
About BB&T
BB&T is one of the largest financial services holding companies in the U.S. with approximately
$220.5 billion in assets and market capitalization of approximately $36.3
billion, as of March 31, 2017. Building on a long tradition of excellence in community
banking, BB&T offers a wide range of financial services including retail and commercial banking, investments, insurance,
wealth management, asset management, mortgage, corporate banking, capital markets and specialized lending. Based in Winston-Salem, N.C., the company operates more than 2,100 financial centers in 15 states and Washington, D.C. A Fortune 500 company, BB&T was recognized as one of Forbes' 2017 Best Banks in
America and is consistently recognized for outstanding client service by Greenwich Associates for small business and middle
market banking. 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
