Which Major Banks Will Maintain Their Dividends?
Several more major U.S. banks have decided to hold their dividends steady for the third quarter, but others not yet revealed their plans following the Federal Reserve's release of the initial results of its annual bank stress tests.
Among the top 10 largest banks, U.S. Bancorp (NYSE: USB), the nation's fifth-largest commercial bank, announced that it will maintain its $0.42 dividend for the third quarter. Bank of New York Mellon (NYSE: BK), the eighth-largest bank, also said it would keep its dividend at $0.31 for the third quarter, while State Street (NYSE: STT), the ninth-largest, will maintain its $0.52 per share payout.
Truist (NYSE: TFC), the sixth-largest commercial bank in the country (formed late last year out of the merger between Georgia-based SunTrust and North Carolina-based BB&T), has not made a determination about its third-quarter dividend. Company officials said the dividend plan is subject to approval by the Truist board at its upcoming meeting. It has recently paid out $0.45 per share each quarter.
Source Fool.com
