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SunTrust Announces Increase in Common Stock Dividend

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  Published in Business and Finance on Tuesday, April 23rd 2013 at 12:15 GMT by Market Wire
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SunTrust Announces Increase in Common Stock Dividend -- ATLANTA, April 23, 2013 /PRNewswire/ --

ATLANTA, April 23, 2013 /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 $0.10 per common share was declared payable on June 14, 2013, to shareholders of record at the close of business on May 31, 2013.  The previous quarterly dividend was $0.05.   

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 June 17, 2013, to shareholders of record at the close of business on June 3, 2013.  The Board of Directors also declared a quarterly cash dividend of $1,468.75 per share on SunTrust's Perpetual Preferred Stock, Series E, payable in cash on June 17, 2013, to shareholders of record at the close of business on June 3, 2013.

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 March 31, 2013, SunTrust had total assets of $172.4 billion and total deposits of $129.9 billion.  Through its flagship subsidiary, SunTrust Bank, 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 amount is $1,022.22222222222

SOURCE SunTrust Banks, Inc.