BB&T First Bank Boosting Dividend (BBT)

BB&T Corp. BBT announced it will be the first bank to increase its dividend, in light of the Federal Reserve letting banks increase dividends after conducting a second round of stress tests.

BB&T will increase the dividend by 6.7% to 16 cents per share per quarter, and will announce a special 1 cent per share special dividend for the second quarter.

Shares are up 50 cents to $27.37 on this news.