SunTrust to Increase Quarterly Common Stock Dividend and Share Repurchase Program
SunTrust to Increase Quarterly Common Stock Dividend and Share Repurchase Program |
[28-June-2018] |
ATLANTA, June 28, 2018 /PRNewswire/ -- SunTrust Banks, Inc. (NYSE: STI and the "Company") announced today that the Federal Reserve Board has completed its review of the Company's capital plan submitted in connection with the 2018 Comprehensive Capital Analysis and Review (CCAR) and has no objections to the Company's planned capital actions. The capital actions, subject to the approval of SunTrust's Board of Directors and anticipated to cover four quarters, include:
"This represents the seventh consecutive year in which our owners will benefit from an increase in capital returns. The 39% increase in total capital returns is enabled by our strong capital position, improved risk profile, and continued growth in earnings," said William H. Rogers, Jr., chairman and CEO of SunTrust Banks, Inc. "This performance, coupled with the momentum we have in growing revenue and improving profitability, continues to generate long-term value for our owners, teammates, clients, and communities." About SunTrust Banks, Inc.
SOURCE SunTrust Banks, Inc. | ||
Company Codes: NYSE:STI |
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