BB&T Among The First Large Banks To Increase Dividend To $0.16

The board of directors of BB&T Corporation BBT today declared a 1-cent increase in the 2011 second-quarter dividend, as well as a special 1-cent dividend. After a review of BB&T's capital plan and projections under very rigorous scenarios, the Federal Reserve today did not object to BB&T's request to raise the dividend.

The total second-quarter dividend is $0.16 plus the $0.01 special dividend per common share. At this quarterly rate, the annual dividend is equivalent to $0.64 per common share. The $0.16 regular dividend represents a 6.7% increase over last year's dividend.