SouthTrust Approves Stock and Cash Dividends

After the closing bell, SouthTrust Corporation (Nasdaq:SOTR) announced the board of director's approval of a 2-for-1 stock split, payable in the form of a 100 percent stock dividend. The payable date is set for May 11 for shareholders of record as of April 30, 2001. SouthTrust currently has about 169 million shares outstanding, 164 million in the float, and 500 million shares authorized. This will be the ninth stock dividend since the Company's IPO.

The board also declared a quarterly cash dividend of $0.14 per share, representing a 12 percent increase over the same period last year. Shareholders of record on May 25, 2001 will receive dividends on the payable date of July 2, 2001.

Additionally, SouthTrust released first quarter earnings earlier today, with EPS of $0.76 beating Thomson/First Call estimates by a penny.

SOTR closed up +1.76 to 45.98 on Wednesday, closing in on the 52- week high of 46.81.

About the Company:

SouthTrust Corporation (www.southtrust.com ) is a $46 billion regional bank holding company with headquarters in Birmingham, Ala. SouthTrust operates more than 630 banking offices and 800 ATMs in Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina, Tennessee and Texas. The company offers a complete line of banking and other related financial services to commercial and retail customers. SouthTrust is a Forbes Platinum 400 and FORTUNE 500 company. (company press release)

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