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SunTrust to hike common stock dividend

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SunTrust to hike common stock dividend

Atlanta-based SunTrust Banks Inc. will be raising its common stock dividend, following board approval.

The company, which received a nonobjection to its capital plan from the Federal Reserve, will be paying out a 40-cent dividend per common share on Sept. 15 to shareholders at close of business Aug. 31.

The previous dividend was 26 cents per share.