SunTrust to Increase Quarterly Common Stock Dividend and Share Repurchase
ATLANTA, March 26, 2014
ATLANTA, March 26, 2014 /PRNewswire/ -- SunTrust Banks, Inc. (NYSE: STI) today
announced that the Federal Reserve has completed its review of the Company's
capital plan submitted in connection with the 2014 Comprehensive Capital
Analysis and Review ("CCAR") and has no objections to the planned capital
actions. The capital actions, subject to the approval of SunTrust's Board of
oAn increase in the quarterly common stock dividend from $0.10 per share to
$0.20 per share, beginning in the second quarter of 2014;
oThe repurchase of up to $450 million of the Company's outstanding common
stock to be completed between the second quarter of 2014 and the first
quarter of 2015;
oMaintaining dividend payments on the Company's preferred stock.
"We are pleased to move ahead with our plans to increase the return of capital
to our shareholders through a higher common stock dividend and a larger share
repurchase program," said William H. Rogers, Jr., chairman and chief executive
officer of SunTrust Banks, Inc. "We remain committed to driving further
improvements in our business performance and delivering long-term value to our
About SunTrust Banks, Inc.
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 December 31, 2013, SunTrust had
total assets of $175.3 billion and total deposits of $129.8 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 its
various subsidiaries, the company provides mortgage banking, asset management,
securities brokerage, and capital market services. SunTrust's Internet address
SOURCE SunTrust Banks, Inc.
Contact: Investors, Ankur Vyas, (404)827-6714, or Media, Hugh Suhr,
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