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SMALL BUSINESS
Regions declares 1-cent quarterly dividend
AP
BIRMINGHAM, Ala. -The Regions Financial Corp. on Thursday declared a quarterly dividend of 1 cent per share and authorized a quarterly payment of $43.8 million to the U.S. Treasury.
The dividend is payable Jan. 4 to stockholders of record as of Dec. 16.
The company had cut the dividend from 10 cents per share to a 1 cent in April to save $250 million a year.
The government payment will bring to $175 million the amount of money repaid this year on the $3.5 billion the government loaned the company.
Regions also authorized payment of $7.2 million to holders of series B preferred stock. Those dividends are payable Nov. 16 to stockholders of record as of Oct. 30.
Regions Financial operates 1,900 banking offices in 16 states across the South, Midwest and Texas. Its investment and securities brokerage trust and asset management division, Morgan Keegan & Co., provides services from over 300 offices.
Shares fell 3 cents to $6.06 in afternoon trading.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-10-15 16:14:34
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