Truist dividend
Truist paid $2.08 per share in dividends in 2025. Truist's cash coverage is mixed: reported common earnings were negative in 2023 and 2024, while excluding the $5,090 million after-tax securities loss, Truist retained $926 million.
How much does Truist pay its shareholders?
Truist repurchased $2.5 billion of common stock in 2025 and paid $2.08 per share in dividends. Buybacks can lift EPS by reducing the share count, but they also use capital that could support lending or absorb losses.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| EPS, diluted | 3.82 | -0.30 | -1.40 | 4.07 | 4.13 |
| − Dividends, per diluted share (calculated) | 2.05 | 2.08 | 2.08 | 1.98 | 1.84 |
| − Share buybacks, per share | 1.92 | 0.75 | 0.00 | 0.19 | 1.20 |
| = Kept, per share | 1.90 | 1.09 | |||
| = Paid out more, per share | 0.15 | 3.13 | 3.48 |
What this means. “Paid out more” means the company returned more money to shareholders through dividends and share buybacks than it earned that year.
Is Truist's dividend covered by its cash?
Reported common earnings from continuing operations were negative in 2023 and 2024, while 2025 showed only a modest excess of payouts over earnings. Adjusted earnings present a stronger picture because large sale-related and other charges distort reported results. In December 2025, Truist authorized up to $10 billion in repurchases with no expiry, but an authorization permits spending; it does not require the bank to spend the full amount.
Paid out more than it earned — The $5,090 million after-tax securities loss created the $4,164 million payout shortfall; excluding it, Truist retained $926 million.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| − Dividends declared on common shares | 2,672 | 2,770 | 2,770 | 2,656 | 2,485 |
| − Share buybacks | 2,500 | 1,000 | 0 | 250 | 1,616 |
| = Kept to grow and build capital | 2,540 | 1,468 | |||
| = Paid out more than it earned | 198 | 4,164 | 4,634 | ||
| Adjusted earnings for common — its own | 4,860 | 4,397 | |||
| Dividend payout ratio — its own | 54.0% | not meaningful | not meaningful | 49.1% | 45.0% |
What this means. The company's dividend payout ratio includes a business it sold, while ours counts only the businesses it still runs.
What could change Truist's dividend?
For the quarter ending December 2026, guidance calls for net interest income of $3,650–$3,700 million, a 0.5% net charge-off ratio, and $1 billion in share repurchases. Truist targets 10.0% CET1 by December 31, 2027, and a normal-condition common dividend payout of 30%–50%.
Dividends remain $2.08 per share in the base case through October 2027, then rise to $2.16 and $2.24. The bear holds the current rate before cutting it to $1.92, while the bull moves from $2.12 to $2.28 and $2.44. The current quarterly dividend is $0.52, and the stated normal payout range is 30%–50%. The unchanged $2.08 rate since 2023 supports stability, but weaker capital could force a cut.
| October 2027 | October 2028 | October 2029 | |
|---|---|---|---|
| Book value | 55,961 (54,261 / 57,561) | 56,161 (51,761 / 59,561) | 56,661 (49,961 / 62,061) |
| Shares (millions) | 1,138 (1,166 / 1,115) | 1,100 (1,146 / 1,057) | 1,064 (1,128 / 1,003) |
| Dividends per share | 2.08 (2.08 / 2.12) | 2.16 (1.92 / 2.28) | 2.24 (1.92 / 2.44) |
| Price to book value | 1.00 (0.85 / 1.10) | 1.02 (0.80 / 1.20) | 1.05 (0.75 / 1.30) |