Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity

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Shareholders' Equity
 3 Months Ended
Jun. 30, 2013
Shareholders' Equity [Abstract]  
SHAREHOLDERS' EQUITY

9. SHAREHOLDERS' EQUITY

 

Share Repurchase Program

 

On March 14, 2013, Huntington announced that the Federal Reserve did not object to Huntington's proposed capital actions included in Huntington's capital plan submitted to the Federal Reserve in January of this year. These actions included an increase in the quarterly dividend per common share to $0.05, starting in the second quarter of 2013 and potential repurchase of up to $227 million of common stock through the first quarter of 2014. Huntington's board of directors authorized a share repurchase program consistent with Huntington's capital plan. This program replaced the previously authorized share repurchase program authorized by Huntington's board of directors in 2012.

 

During the three-month period ended June 30, 2013, Huntington repurchased a total of 10.0 million shares of common stock, at a weighted average share price of $7.50. Under both share repurchase programs, Huntington repurchased a total of 14.7 million shares of common stock during the six-month period ended June 30, 2013, at a weighted average share price of $7.36.