SunTrust Keeps Dividend Steady

The regional banking concern also declared payouts for three classes of preferred stock.

By Rich Duprey – Aug 13, 2013 at 9:57PM EST

Regional bank SunTrust Banks (STI +0.00%) announced today its third-quarter dividend of $0.10 per share, the same rate it paid last quarter after doubling the payout from $0.05 per share.

The board of directors said the quarterly dividend is payable on September 16 to holders of record at the close of business on August 30. It also declared dividends on three classes of preferred shares:

$1,022.22 per share on its Series A perpetual preferred stock
$1,022.22 per share on its Series B perpetual preferred stock
$1,468.75 per share on its Series E perpetual preferred stock

The regular dividend payment equates to a $0.40-per-share annual dividend, yielding 1.1% based on the closing price today of SunTrust Banks' stock.

STI Dividend data by YCharts.

Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time. Having made the streets safe for Truth, Justice, and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. His coverage reflects his passion for motorcycles, booze, and guns (though not enjoyed all at the same time...usually), but his writing also covers the broader sectors of consumer goods, technology, and industrials. So follow along as he tries to break down complex topics to make them more understandable and useful to the average investor. Have a story idea? Contact Rich here. I may not be able to respond to every suggestion, but I do read them all! Does an article needs a correction? Reach Rich here.

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SunTrust Keeps Dividend Steady

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