This Bank Is About to Raise Its Dividend Nearly 30%

This Bank Is About to Raise Its Dividend Nearly 30%

How does a nearly 30% dividend raise sound?

It was undoubtedly music to the ears of Alabama-based Regions Financial (NYSE: RF) shareholders when they heard their bank was making such a hefty increase. Although the company isn't an over-performer in its peer group in certain respects, it still has good potential for higher profitability going forward. And, by extension, paying higher dividends.

To be specific, Regions Financial's new quarterly common stock dividend will be $0.09, an increase of almost 29%. The new distribution would yield a respectable 2.5%, more or less in line with the upcoming payouts planned by fellow regional banking groups PNC Financial Services, Fifth Third, and KeyCorp. 

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Source: Fool.com