Fifth Third Bancorp CEO says bank is well-positioned to improve shareholder value, increase dividends, expects to make acquisitions

Cindy Allen

CINCINNATI , May 5, 2011 (Associated Press) – Fifth Third Bancorp's chief executive says the regional bank is in a good position to move forward and improve shareholder value as the economy recovers.

CEO Kevin Kabat told shareholders at a meeting Tuesday in Cincinnati that they will see increased dividends as a result of the bank continuing to focus on its core operating business. He says Fifth Third must move cautiously on dividends and did not say when shareholders could expect an increase.

Kabat predicted more consolidation in the next few years. He says Fifth Third expects to make acquisitions, but nothing is imminent.

The Cincinnati-based company has worked to overcome a sluggish housing market in key states such as Florida and Michigan. Kabat told reporters there has been some stabilization, but recovery is slow.

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