Regions declares stock dividend, Treasury payment

Alabama-based Regions Financial Corp. declared a quarterly dividend on Thursday and a payment to the U.S. Treasury related to the Capital Purchase Program.

The Regions Board of Directors declared a 1-cent-per-share cash dividend, payable Jan. 4, to stockholders of record Dec. 16.

The board also authorized a $43.8 million quarterly cash dividend payment for all of the company's Fixed Rate Cumulative Perpetual Preferred Stock, payable on Nov. 16 to the U.S. Treasury.

The payment is tied to the government's $3.5 billion investment in Regions made as part of the Capital Purchase Program, a component of the Troubled Asset Relief Program. Including this dividend, the company will have paid the government more than $175 million in dividends this year.

Regions Financial (NYSE: RF) serves customers in 16 states and operates about 1,900 Regions Bank offices and 2,300 automated teller machines. Shares of the company stock closed Thursday at $6.09, compared to a 52-week range of $2.35 to $12.96. Shares were trading down at $5.91 as of 11:15 a.m.