Company: TFC
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000092230-25-000050
Chunk: 11

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 3
Chunk 11
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 capitalized banks. Truist’s CET1 ratio was 11.3% as of March 31, 2025, down 20 basis points compared to December 31, 2024 due to capital returned to shareholders, an increase in risk-weighted assets, and the final CECL phase-in, partially offset by current quarter earnings.

Truist declared common dividends of $0.52 per share during the first quarter of 2025 and repurchased $500 million of common stock. For the first quarter of 2025, the dividend payout ratio was 59%, and the total payout ratio was 102%.

70   Truist Financial Corporation

Share Repurchase Activity

Table 25: Share Repurchase Activity(Dollars in millions, except per share data, shares in thousands)Total Number of Shares Purchased(1)Average Price Paid Per Share(2)(3)Total Number of Shares Purchased as part of Publicly Announced PlansApproximate Dollar Value of Shares that may yet be Purchased Under the Plans(3)(4)January 1, 2025 to January 31, 202511,255 $44.42 11,255 $3,500 February 1, 2025 to February 28, 2025— — — 3,500 March 1, 2025 to March 31, 2025— — — 3,500 Total11,255 $44.42 11,255 

(1)Includes shares exchanged or surrendered in connection with the exercise of equity-based awards under equity-based compensation plans.

(2)Excludes commissions.

(3)Excludes excise taxes on share repurchases.

(4)In June 2024, Truist announced that the Board had authorized the repurchase of up to $5.0 billion of common stock beginning in the third quarter of 2024 through 2026 as part of Truist’s overall capital distribution strategy. Repurchased shares revert to the status of authorized and unissued shares upon repurchase. The share-repurchase program enables Truist to acquire shares through open-market purchases or privately negotiated transactions, including through Rule 10b5-1 plans and other programs, at the discretion of management and on terms (including quantity, timing, and price) that management determines to be advisable. Actions in connection with the share-repurchase program will be subject to various factors, including Truist's capital and