BB&T Corp (BBT) announced a penny increase in the company's quarterly dividend. The new quarterly dividend increases to 47 cents per share versus 46 cents per share in the same quarter last year. It is encouraging to see the company come through with an increase, but the projected payout ratio is 74% based on 2009 estimated earnings per share of $2.52. The 2009 estimate is 12 cents lower than the 2008 EPS of $2.64. BBT carries a A- S&P Earnings & Dividend Quality Ranking.
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Disclosure: I hold an interest in BB&T Corp.
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