Boston, MA 10/17/2013 (wallstreetpr) – Regions Financial Corporation (NYSE:RF) has on Wednesday, October 16, announced dividend of $0.03 per share planned for payout on January 2, 2014. This dividend payout captures shareholders on record as of Friday, December 13, 2013. The declared dividend represents a dividend yield of 1.25% and an annualized dividend of $0.12. The company announced the planned dividend payout on news release to media outlets.
The financial institution has shown some gains in its market value since September. Since sliding close to 5% around September 19 – 23, over the FED tapering announcement, the stock has been on gradual yet steady rise to in attempts to regain its lost ground.
During the period of Q2.13, Regions retired a consolidated $598 million of preferred stock notes and repurchased around $175 million of its common stock.
Given the institutions market cap which stands at $13.70 billion as of October 16, it is required to observer some stringent regulations, which in effect eat a lot into forward profitability. A notable stringent requirement is increasing cost of compliance and possible reduction of fee income. These regulatory requirements have made it difficult for the financial institution to realize its dream of profitability moving forward.
In the view of these inevitable constraints, Regions has however witnessed quite an upward rally over the past few weeks. As of October 16, its shares have gone up 2.51%, thus settling at $9.81 per share by close of last session.
The financial institution which is one of the largest commercial and consumer full-service banking providers holds $119 billion in assets and is S&P 500 Index member. The institution has customers in 16 states and operates more than 2,000 ATMs and 1,700 banking offices. Besides traditional banking services, the bank holding company also offers wealth management, insurance products and services as well as mortgage. Regions will release its Q3.13 earnings on October 22, followed by a conference call later on the same day.
