ATLANTA, April 22, 2014 /PRNewswire/ -- The Board of Directors of SunTrust Banks, Inc. (NYSE: STI) today announced an increase in the dividend on SunTrust common stock. A quarterly cash dividend of $0.20 per common share was declared payable on June 16, 2014, to shareholders of record at the close of business on May 30, 2014. The previous quarterly dividend was $0.10.
The Board of Directors also declared the following dividends payable in cash on June 16, 2014, to shareholders of record at the close of business on May 30, 2014:
- a quarterly cash dividend of $1,022.22* per share on SunTrust's Perpetual Preferred Stock, Series A;
- a quarterly cash dividend of $1,022.22* per share on SunTrust's Perpetual Preferred Stock, Series B; and
- a quarterly cash dividend of $1,468.75 per share on SunTrust's Perpetual Preferred Stock, Series E.
SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of March 31, 2014, SunTrust had total assets of $179.5 billion and total deposits of $133 billion. Through its flagship subsidiary, SunTrust Bank, the company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic States and a full array of technology-based, 24-hour delivery channels. The company also serves clients in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through its various subsidiaries, the company provides mortgage banking, asset management, securities brokerage, and capital market services. SunTrust's Internet address is suntrust.com.
* Editor's Note: The preferred stock dividend has been rounded for reader convenience. The precise amount is $1,022.22222222222.