Comerica (CMA) Boosts Buyback by Up to 10M Common Shares
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Comerica, Inc. (NYSE: CMA) board increased the number of shares of common stock that Comerica is authorized to repurchase under its share repurchase program by up to 10 million shares. This action was taken in conjunction with Comerica's announcement on March 14, 2013, that the Federal Reserve did not object to Comerica's 2013 capital plan and contemplated capital distributions. The plan includes up to $288 million in equity repurchases for the four-quarter period commencing in the second quarter 2013 and ending in the first quarter 2014. Shares will be purchased from time to time in the open market or otherwise. The shares may be held as treasury stock or retired.
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