Huntington Bancshares (HBAN) Plans to Increase Dividend 17%; Potential Repurchase of $366M In Stock

Huntington Bancshares (NASDAQ: HBAN) was notified by the Federal Reserve that it had no objection to Huntington's proposed capital actions included in Huntington's capital plan submitted to the Federal Reserve in January of this year. These actions included a 17% increase in the quarterly dividend per common share to $0.07, starting in the fourth quarter of 2015, and the potential repurchase of up to $366 million of common stock over the five-quarter period through the second quarter of 2016. Huntington's Board of Directors is expected to consider the next quarterly dividend and the share repurchase program at its April 21, 2015 meeting.

“We are pleased to have earned the opportunity to increase our capital return to our shareholders for the second consecutive year under the CCAR process,” said Stephen D. Steinour, chairman, president and CEO. “The Federal Reserve’s non-objection to our intended capital actions is indicative of our strong capital levels and financial performance. Our intended capital actions reflect our well-articulated capital priorities, with reinvesting excess capital in the organic growth of the business remaining our top priority.”

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