Huntington Bancshares Incorporated (NASDAQ:HBAN) has agreed to a deal with Federal Investors Inc, which would allow the later to acquire $1.1 billion in market fund assets from the former. The deal is expected to be closed by the end of the 4Q2015. Furthermore, HBAN has also announced the payment of dividend of $0.06 per share. All shareholders, who purchased the stock prior to September 15, 2015, would be eligible for the payment on October 1, 2015.

The terms of the deal between HBAN and FII are still to be disclosed. However, the deal does state that a total of $236 million would be transferred from the HBAN market fund to the FII cash obligations fund. However, the remaining $870 million would be transferred from the HBAN US treasury market fund to the Federated treasury obligations fund. FII has been trying to re-develop its product line, so as to make it in compliance with the new SEC regulations. The deal with HBAN allows the investment manager company to reach its target of completing the re-development process by the end of the year. Currently, FII’s money market assets stand at a total of $242 billion.

This is also the fourth consecutive quarter that HBAN has paid the same amount as dividend to its shareholders. Currently, the dividend yield stands at a value of 2.22%. However, the company is also experiencing an earnings growth of 9.25%, which is higher than the industry average of 8.1%. The analysts have rated the stock a hold on average, despite the fact that the stock experienced great volatility in one of the recent sessions. Since the start of 2015, the company has appreciated by 4.34% in the market and seems to be carrying on with this trend.

Huntington Bancshares Incorporated (NASDAQ:HBAN) was trading at a share price of $10.94 at the final bell of the September 15 session. The stock reported a spike of 1.3% in value, despite having trade volumes of 0.00.