The Regions Financial Corporation (NYSE:RF) has declared its quarterly cash dividend of $0.01 per common share. The dividend will be payable to stockholders of record of March 18, 2010 on April 1, 2010. The company’s board of directors has authorized the payment, totaling $43.8 million for all of the company’s issued and outstanding Fixed Rate Cumulative Perpetual Preferred Stock, Series A. It will be payable on February 16, 2010, to the shareholder of record, the United States Treasury, as of January 29, 2010. By then, the company will have also paid the US government over $219 million in dividend since 2009.
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Regions Financial Corporation (Regions) is a financial holding company that operates throughout the South, Midwest and Texas. The Company provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other specialty financing. Regions conducts its banking operations through Regions Bank, an Alabama chartered commercial bank that is a member of the Federal Reserve System. The Company operates in three segments: General Banking/Treasury, Investment Banking, Brokerage and Trust and Insurance. As of December 31, 2008, Regions operated approximately 2,300 automated teller machines (ATMs) and 1,900 banking offices in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, Texas and Virginia.
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