logo
Share SHARE
FONT-SIZE Plus   Neg

Huntington Bancshares Gets No Objection For Proposed Capital Actions

Huntington Bancshares Incorporated (HBAN) 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".

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
TCL Communications CEO Nicolas Zibell announced the plan to launch new Blackberry brand smartphone with superior security features. The new android phone BlackBerry KeyOne will be a beginning of a new story, he noted. Though the iPhones with smarter and popular features killed the Canadian smartphone maker, the BlackBerry brand has been maintaining strong fan-following around the globe. Its secu In response to stiff competition from its rivals, AT&T Inc. has lowered the price of its unlimited data plan and is also offering a video credit if customers subscribe to a video service plan. The unlimited mobile data plan was made available to all AT&T customers less than two weeks ago. The plan for a single phone will now cost $90 for the first line, a price cut of $10. Discount-store operator Target, Inc. on Tuesday reported a 43 percent decline in profit in the fourth quarter from last year, reflecting lower sales and weaker margins. In addition, the prior-year period's results included a one-time gain. Adjusted earnings per share for the latest quarter missed analysts' expectations.
comments powered by Disqus
Follow RTT