The board of directors of BB&T Corporation (NYSE: BBT) today declared an increase in the 2008 third quarter dividend to $0.47 per share, a 2.2 percent increase over the $0.46 paid in the third quarter of 2007.
The dividend will be paid Aug. 1 to shareholders of record as of July 11.
"We are pleased to announce an increase in the cash dividend," said Chairman and Chief Executive Officer John Allison. "This increase marks the 37th consecutive year that BB&T has increased the cash dividend paid to shareholders and reflects our healthy capital levels."
The 10-year compound growth rate for BB&T's quarterly dividend payment is 10.4 percent. BB&T has paid a cash dividend to shareholders every year since 1903.
With $136.4 billion in assets, Winston-Salem, N.C.-based BB&T Corporation (NYSE: BBT) is the nation's 14th largest financial holding company. It operates nearly 1,500 financial centers in 11 states and Washington, D.C. -- BB&T Corporation
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