Reply #3: Major U.S. bank dividend actions Friday

[Demeter]

http://www.marketwatch.com/story/major-us-bank-dividend-actions-friday-2011-03-18?siteid=YAHOOB

The nation’s biggest bank holding companies are announcing increased dividends, share buybacks, stock issuance and plans to repay their government bailouts, now that the Federal Reserve has given answers to their capital assessment plans.

The banks were under strict rules on spending capital, but the results ease up those rules, allowing them to go forward with plans.

The banks didn’t wait long to proclaim victory: BB&T Corp. put out its increased dividend 24 minutes after the Fed’s announcement went official.

Here’s a list of which banks have said what so far Friday:

BB&T /quotes/comstock/13*!bbt/quotes/nls/bbt (BBT 26.95, -0.04, -0.15%) --16-cent per share quarterly dividend, up by a penny per share, plus a 1 cent one-time special dividend, which raises the first quarter dividend to the new rate. Shares recently were up 2% to $27.41.

J.P. Morgan Chase & Co. /quotes/comstock/13*!jpm/quotes/nls/jpm (JPM 45.66, -0.08, -0.18%) --25-cent quarterly dividend, up from 5-cent payout, plus a $15 billion share buyback program with $8 billion expected in 2011. Shares were up 2.9% to $45.86.

Wells Fargo & Co. /quotes/comstock/13*!wfc/quotes/nls/wfc (WFC 31.80, -0.03, -0.09%) --12 cents per share quarterly dividend rate, up from 5 cents per share, plus a 7-cent one-time special dividend and a plan to repurchase 200 million shares. Shares were up 2.1% to $32.02.

US Bancorp /quotes/comstock/13*!usb/quotes/nls/usb (USB 26.87, +0.22, +0.84%) --12.5-cent quarterly dividend rate, up from 5 cents, plus a 50-million share repurchase program. Shares were up 2.5% to $27.01.

Bank of New York Mellon Corp. /quotes/comstock/13*!bk/quotes/nls/bk (BK 28.86, -0.02, -0.07%) --No specific rate, but Fed approved plan for “second quarter capital actions, including a dividend increase and share repurchases.” Shares were up 1% to $29.05.

American Express Co. /quotes/comstock/13*!axp/quotes/nls/axp (AXP 44.16, -0.01, -0.02%) --Plans to return, on average and over time, 50% of capital to shareholders. Unlike its peers, AmEx, with quarterly dividends at 18 cents per share, didn’t cut its dividend amid the financial crisis. The company isn’t likely to buy back shares until it announces first-quarter results. Shares were up 2.1% to $44.34.

PNC Financial Services Group Inc. /quotes/comstock/13*!pnc/quotes/nls/pnc (PNC 62.51, -0.25, -0.40%) --Board will consider a dividend increase at April 7 meeting for the second quarter. Shares will be repurchased under existing program. Shares were up 2.2% to $63.39.

SunTrust Banks Inc. /quotes/comstock/13*!sti/quotes/nls/sti (STI 29.65, +0.06, +0.20%) --The Fed approved its plan to pay back $4.85 billion it holds in government bailout funds, the largest bank amount outstanding in the Troubled Asset Relief Program. SunTrust plans a $1 billion stock sale to assist in paying back TARP, though the Treasury still has to approve the plan. Shares rose 5% to $29.62.

KeyCorp /quotes/comstock/13*!key/quotes/nls/key (KEY 8.93, +0.01, +0.11%) --Plans to repurchase its $2.5 billion in TARP funds and raise $625 million in common stock to fund the repayment. Bank also expects to raise its dividend in the second quarter to 3 cents a share from 1 cent. Shares were up 4% to $9.20.

Morgan Stanley /quotes/comstock/13*!ms/quotes/nls/ms (MS 27.42, -0.01, -0.03%) --The firm is “comfortable” with its capital position while its “priorities” are the continued investment in its businesses and purchasing the rest of Morgan Stanley Smith Barney. Shares up 1.5% to $27.85.

Capital One Financial Corp. /quotes/comstock/13*!co/quotes/nls/co (CO 3.32, -0.01, -0.30%) --Maintains its quarterly dividend at 5 cents a share, and says its capital is strong. Shares up 1.4% to $51.47.