BB&T Corp. made good on a promise by raising its quarterly dividend by a penny Tuesday, to 47 cents a share.
The $136.4 billion-asset Winston-Salem, N.C., company will pay its second-quarter dividend Aug. 1 to shareholders of record on July 11.
The increase was announced less than a week after Adam Barkstrom, a Sterne Agee & Leach Co. analyst, wrote in a research note that BB&T was more likely to cut its dividend as credit costs rise.
BB&T had said in April that it was looking to boost its dividend. On the day Mr. Barkstrom issued his note, the company reaffirmed its intent to boost its dividend.