ATLANTA, Aug. 8, 2017 /PRNewswire/ -- The board of directors of SunTrust Banks, Inc. (NYSE: STI) today approved an increase in the dividend on SunTrust common stock.  A quarterly cash dividend of $0.40 per common share was declared payable on September 15, 2017, to shareholders of record at the close of business on August 31, 2017. The previous quarterly dividend was $0.26.

The board of directors also declared the following dividends payable in cash on September 15, 2017, to shareholders of record at the close of business on August 31, 2017:

• a quarterly cash dividend of $1,022.22* per share on SunTrust's Perpetual Preferred Stock, Series A;
• a quarterly cash dividend of $1,022.22* per share on SunTrust's Perpetual Preferred Stock, Series B; and
• a quarterly cash dividend of $1,468.75 per share on SunTrust's Perpetual Preferred Stock, Series E.

About SunTrust Banks, Inc.
SunTrust Banks, Inc. is a purpose-driven company dedicated to Lighting the Way to Financial Well-Being for the people, businesses, and communities it serves. Headquartered in Atlanta, the Company has two business segments: Consumer and Wholesale. Its flagship subsidiary, SunTrust Bank, operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states, along with 24-hour digital access. Certain business lines serve consumer, commercial, corporate, and institutional clients nationally. As of June 30, 2017, SunTrust had total assets of $207 billion and total deposits of $160 billion. The Company provides deposit, credit, trust, investment, mortgage, asset management, securities brokerage, and capital market services. SunTrust leads onUp, a national movement inspiring Americans to build financial confidence. Join the movement at onUp.com.

* Editor's Note: The preferred stock dividend has been rounded for reader convenience. The precise amount is $1,022.22222222222.

SOURCE SunTrust Banks, Inc.