Truist Financial Corp. (TFC) to maintain dividend following stress test

June 30, 2023 5:26 PM EDT

Truist Financial Corporation (NYSE: TFC) today announced the Federal Reserve Board has determined the Company's preliminary stress capital buffer ("SCB") requirement is 2.9%. The Federal Reserve Board will provide the Company's final SCB requirement on or before Aug. 31, 2023. Once finalized, the new SCB requirement will be in effect from Oct. 1, 2023 to Sept. 30, 2024.

Truist also announced plans to maintain its current quarterly common stock dividend of $0.52 per share, subject to approval by its board of directors.

"Truist's 2023 annual stress test results again demonstrate the benefits of our diverse business mix and prudent and disciplined risk management culture," said Truist Chairman and Chief Executive Officer Bill Rogers. "Our strong liquidity and capital positions, bolstered by the approximately 30 basis point increase to our CET1 ratio from the minority stake sale of Truist Insurance Holdings that was completed after the start of the 2023 annual stress test exercise, provide us significant capacity to serve our clients and stakeholders, maintain a strong dividend for our shareholders, and ultimately help us deliver on our purpose to inspire and build better lives and communities."

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Dividends

Related Entities

Dividend, FDIC, Earnings