COLUMBUS, Ohio - Huntington Bancshares Inc. said its board has declared a dividend increase and stock distribution that will boost the total cash dividend by 22.2%. The company increased the quarterly dividend by 2 cents a share, to 20 cents, payable July 1 to shareholders of record on June 14. In addition, the board announced a 10% stock dividend payable July 30 to shareholders of record on July 16.
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The increasing adoption of virtual card payments by accounts payable departments has created an unexpected complication for suppliers: more friction in the processing, posting and reconciliation of payments and receivables. The root of the problem is that most suppliers rely on a manual approach to processing e-mailed virtual card payments. Suppliers are forced to balance their organization’s need for operational efficiency and control with rising customer demand to pay with a virtual card. But a new breed of technology enables suppliers to process virtual card payments straight-through, addressing the needs of buyers and suppliers. This paper details the growth of electronic business-to-business (B2B) payments, shows how manual approaches to processing virtual card payments cause friction in accounts receivables, describes a way to process virtual card payments straight-through, and highlights the benefits of frictionless payments.