Comerica Inc. (CMA) to Increase Dividend to 21c, Buyback $393M

Comerica Incorporated (NYSE: CMA) today announced that after the Federal Reserve had completed its 2015 Comprehensive Capital Analysis and Review ("CCAR"), it did not object to the Comerica capital plan and capital distributions contemplated in the plan. The plan includes:

• increasing the Company's quarterly dividend to $0.21 per common share, a 5 percent increase over the current dividend rate. The dividend proposal will be considered by the Board at its next scheduled meeting on April 28, 2015.
• equity repurchases up to $393 million for the five-quarter period commencing in the second quarter 2015 and ending in the second quarter 2016.

The reacquired shares will be held as treasury shares and may be used for various corporate purposes, including to offset issuances of common shares under Comerica's compensation plans. The timing and ultimate amount of equity repurchases will be consistent with the Company's capital plan and will be subject to various factors, including the Company's capital position, financial performance and market conditions.

"The Federal Reserve has completed its review and we are moving forward with our 2015 capital plan, which includes increases to equity repurchases as well as the dividend. After returning 66 percent of net income to shareholders in 2014, we are pleased to continue to provide a meaningful return to our shareholders in 2015," said Ralph W. Babb Jr., chairman and chief executive officer.

Comerica Incorporated is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $69.2 billion at December 31, 2014.

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