Today SunTrust Banks (STI) announced a 5.48% increase in the company's quarterly cash dividend. The new quarterly dividend is increased to 77 cents per share versus 73 cents per share in the same period last year. The projected payout ratio will total 62% versus the 5-year average payout ratio of 45%. The new payout ratio has trended higher compared to the 2003 payout ratio of 38%. SunTrust has an S&P Quality Ranking of A.
(click table/chart for larger image)