October 15, 2009

Regions Declares Quarterly Cash Dividend on Common Shares, $43.75 Million Dividend on TARP-Related Preferred Shares, and Dividend on Mandatory Convertible Preferred Stock

BIRMINGHAM, Ala.--(BUSINESS WIRE)--Oct. 15, 2009-- The Regions Financial Corporation (NYSE:RF) Board of Directors has declared a quarterly cash dividend of 1 cent per common share, payable January 4, 2010, to stockholders of record as of December 16, 2009.

The Board of Directors also authorized payment of a quarterly cash dividend of approximately $43.8 million for all of the company’s issued and outstanding Fixed Rate Cumulative Perpetual Preferred Stock, Series A, payable on November 16, 2009, to the shareholder of record, the United States Treasury, as of October 30, 2009. This quarterly dividend payment relates to the government’s $3.5 billion investment in Regions Financial made under the Capital Purchase Program of TARP. Including this dividend, the company will have paid the U.S. government more than $175 million in dividends in 2009.

In addition, the Board of Directors authorized payment of a quarterly cash dividend related to 10% Mandatory Convertible Preferred Stock, Series B (“Series B preferred shares”), in the amount of approximately $7.2 million, payable November 16, 2009, to stockholders of record as of October 30, 2009.

About Regions Financial Corporation

Regions Financial Corporation, with $143 billion in assets, is a member of the S&P 100 Index and one of the nation’s largest full-service providers of consumer and commercial banking, trust, securities brokerage, mortgage and insurance products and services. Regions serves customers in 16 states across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,900 banking offices and 2,300 ATMs. Its investment and securities brokerage trust and asset management division, Morgan Keegan & Company Inc., provides services from over 300 offices. Additional information about Regions and its full line of products and services can be found at www.regions.com.

Source: Regions Financial Corporation

Regions Financial Corporation
Media Contact:
Tim Deighton, 205-264-4551
or
Investor Relations Contact:
List Underwood, 205-801-0265


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