CapitalBecause of the Coke sales, SunTrust's capital ratios have improved over the last three quarters. The company's leverage ratio was 7.95% as of Sept. 30, up from 7.54% last quarter and 7.28% in September 2008. SunTrust has not lowered its dividend on common shares, which is 77 cents per quarter, for a yield of 7.4% on yesterday's closing price of $40.13. CEO James Wells III said SunTrust was applying to the Treasury's troubled asset relief program, or TARP, and was continuing to consider its dividend policy. Wells said he "would clearly expect for us to deploy that capital ... if the company were actually to issue the preferred stock." Wells said the company would look to use the capital "through organic growth, through potential purchases of different assets as well as pursuing potential acquisitions."
Asset QualitySunTrust excludes loans past due 90 days, but still accruing interest, from its reported nonperforming loans. We have included these balances in the table below.
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|Source: Company earnings releases|