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Truist board authorizes up to $2 billion in share repurchases in 2021


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. ....

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