SunTrust Banks Maintains Quarterly Dividend

SunTrust Banks (STI), a financial services company with operations in the Southeast U.S., today said that it "does not have any current plans to modify the dividend." Its 77 cent quarterly dividend represents an 8.90 percent dividend yield.

STI has a long history of increasing its dividend, making the stock a candidate for a buy-and-hold dividend reinvestment program.

Like other financial stocks, STI is on the price downside so monitor its price pattern before you buy it.

I (RAH) do not own STI.

Posted July 22, 2008.