Earlier this morning, BB&T (NYSE: BBT) announced that it will cut the size of its dividend as part of its plan to repay all stock and warrants that were invested in the company through TARP. BBT said that a 15-cent dividend will be paid on common stock in the third quarter -- 68% lower than the company's current 47-cent dividend. BBT declare: "In addition to our current earnings, while superior to our peers, are not likely to justify our 47-cent dividend in the near term." The company said that the board decided to make the dividend cut thanks to "the risk and uncertainty associated with being a TARP participant." This reduced dividend will be paid on August 3 to shareholders of record as of July 10.
I've been doing a fair amount of chest puffing lately, as many of my moves suggested here and 
After reaching a historic high in the mid-$30s in June 2007, 
Closing Bell: Dubai sends jitters throughout the market (S, BBY)
Heinz looking good after the second quarter?
Why isn't Bank of America updating its shareholders on CEO situation?
