BB&T Corp. has raised its regular quarterly dividend to 37.5 cents per common share.
Because the company already announced a 33-cent dividend for the first quarter, the period's payout will be staggered. BB&T will pay 33 cents per share on March 1 to shareholders of record as of Feb. 9. It will then pay the additional 4.5 cents per share on March 20 to shareholders of record as of March 6.
BB&T expects to again pay 37.5 cents per share in the second quarter.
The higher capital return has been approved by the Federal Reserve, and the company plans to include more capital action requests in its 2018 Comprehensive Capital Analysis and Review filing.
Winston-Salem, N.C.-based BB&T had $221.64 billion in assets at the end of 2017. It is the holding company of Branch Banking and Trust Co., BB&T Securities LLC and Swett & Crawford Group Inc., among others.