In June, BB&T (BBT) affirmed its intention to increase its quarterly dividend. Well, Thursday the company came through on its intention and announced a 2.2% increase in the company's quarterly dividend. The rate of increase is below its 10-year average dividend growth rate of 10%.
- The new quarterly dividend increases to 47 cents per share versus 46 cents per share in the same period last year.
- The estimated payout ratio will equal 65% based on December 2008 estimated earnings of $2.89. The 5-year average payout for BBT is approximately 54%.
- The company has a S&P Quality Ranking of A-.
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