Breaking News
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Huntington Bancshares Gets No Objection For Proposed Capital Actions

RELATED NEWS
Trade HBAN now with 
3/14/2012 5:10 AM ET

Huntington Bancshares Incorporated (HBAN: Quote) was notified by the Federal Reserve that it had no objection to Huntington's proposed capital actions included in Huntington's capital plan submitted to the Federal Reserve in January of this year. These actions included the potential buyback of up to $182 million common shares and a continuation of Huntington's current common dividend through the first quarter of 2013. Huntington's board authorized a share buyback program consistent with Huntington's capital plan.

Stephen Steinour, chairman, president and chief executive said, "We are pleased that the Federal Reserve has completed its review and did not object to our potential capital distributions,which allows us to maintainour common dividend and establish our share repurchase authorization, enabling us to expand our disciplined approach to capital management." Steinour added, "Reinvesting excess capital to organically grow the business remains our priority. Importantly, dividends and share repurchases provide us additional options to create long-term shareholder value subject to various factors including earnings opportunities and market conditions".

Register
To receive FREE breaking news email alerts for Huntington Bancshares Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Chipmaker Advanced Micro Devices Inc. said Thursday after the markets closed that its first quarter loss narrowed from last year, helped by strong revenue growth in its graphics and visual solutions business. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue. After trending higher over the past few sessions, stocks showed a lack of direction throughout the trading day on Thursday. The major averages spent the session bouncing back and forth across the unchanged line before ending the day mixed. While the major averages closed on opposite sides of the unchanged line, they all showed only modest moves. U.S. Secretary Of State John Kerry said Thursday that he and his counterparts from Russia, Ukraine and the European Union have reached an agreement on a preliminary plan for ending the ongoing crisis in Ukraine. Kerry was speaking at the end of the Ukraine contact group's first meeting, comprising the foreign ministers of Russia, Ukraine, the EU and the U.S., in the Swiss city of Geneva.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.