Fifth Third Unveils Dividend Increase
July 22, 2021
Fifth Third Bancorp easily beat analysists’ second quarter earnings estimates and now plans to raise its quarterly dividend by three cents per share in September. Cincinnati Business Courier reporter Steve Watkins asked our Jim Russell to comment on the news for shareholders:
“Fifth Third’s second-quarter results significantly exceeded expectations as the bank’s loan-loss provision release underscores the constructive credit environment for both business and consumers,” Russell said. “The fee income businesses remain strong and serve as a nice offset to continued net interest income pressure.”
“Management provided a solid third-quarter outlook with strong expense control evident and a stabilization in loan and lease demand. Strong credit trends and low loan losses are anticipated to remain a theme for Fifth Third and most other regional banks into the third quarter and fourth quarter.”
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