As a result of the stress test results SunTruist is increasing dividend from .45 to .48 per share a 7% increase. Any of you “teammates” get a 7% salary bump? Nah I didn’t think so.
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Dividend increase hasn’t help stock price. It continues to drop. Has Wall Street caught up with this disaster?
On the surface a company approving a dividend increase is a good thing. What is disturbing in this case is for those who truly know what is going on behind the scenes, this is simply NOT a healthy company. From rampant employee dissatisfaction to being told there is no money for raises or system improvements to invest in improving the franchise - yet there always seems to be money for buybacks and dividend increases. A house of cards.
The point of the post seems to be that in the midst of culling thousands of jobs, allegedly upgrading systems and trying to complete a disaster of merging these two polar opposite banks into one cohesive big bank as soon as the feds relax reserve requirements the first thing they use it for is a dividend increase. They have kept the stock price up with buybacks worth several billion dollars while the fed has printed money like a monopoly game to the advantage of this bank and others. Hate it for your children and grandchildren because when the reckoning comes it will be ugggllly!
They take from one mouth to feed the other. A dividend incase would be nice if they didn't sc--w over the people who made it happen. They cut hours, layoff the best and wow, I should be happy the dividend increased....Not!
You say this like it's a bad thing. I am pleased to see the dividend is being increased.