Regions Financial Corporation (NYSE:RF) Declares Dividend Increase - $0.30 Per Share

Key Points

• Regions Financial declared a quarterly dividend of $0.30 per share, up 13.2% from the prior $0.27 payout. The dividend will be paid on October 1 to shareholders of record on September 1.
• The new payout implies an annualized dividend yield of about 3.8%, and the bank has now increased its dividend for 12 consecutive years. Its payout ratio of 43.1% suggests the dividend is well covered by earnings.
• The stock was up 1.9% and opened at $31.50, near its 52-week high of $31.55. Regions also recently beat quarterly EPS expectations, reporting $0.62 per share versus the $0.61 estimate.

Regions Financial Corporation (NYSE:RF - Get Free Report) announced a quarterly dividend on Wednesday, July 15th. Investors of record on Tuesday, September 1st will be given a dividend of 0.30 per share by the bank on Thursday, October 1st. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Tuesday, September 1st. This is a 13.2% increase from Regions Financial's previous quarterly dividend of $0.27.

Regions Financial has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 12 consecutive years. Regions Financial has a dividend payout ratio of 43.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Regions Financial to earn $2.84 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 37.3%.

Regions Financial Stock Up 1.9%

Shares of NYSE:RF opened at $31.50 on Thursday. Regions Financial has a fifty-two week low of $22.70 and a fifty-two week high of $31.55. The firm's 50 day moving average price is $28.78 and its 200 day moving average price is $28.18. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.18. The stock has a market cap of $26.88 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Friday, April 17th. The bank reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The company had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.92 billion. During the same quarter in the previous year, the business posted $0.54 EPS. The firm's revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts predict that Regions Financial will post 2.6 earnings per share for the current fiscal year.

About Regions Financial

Regions Financial Corporation NYSE: RF is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.

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