Q: I recently moved to Winston-Salem and recently visited the graveyard in Old Salem. Are those headstones original or were they originally standing up?
Truist Financial Corp. plans to resume share repurchases in the first quarter after passing the second round of the Federal Reserve s stress tests for 2020.
The bank s board of directors declared Wednesday its intent to repurchase up to $2 billion worth of stock.
At Wednesday s closing share price of $47.29, Truist would be able to repurchase 42.3 million shares, or 3.1% of its 1.35 billion outstanding shares.
Meanwhile, the board chose to maintain a 45-cent quarterly dividend that the bank began paying in October 2019.
Truist said any stock repurchases will be informed by economic and regulatory considerations, as well as Truist s capital position, earnings outlook and capital deployment priorities.