Comerica, Inc. (CMA) Raises Quarterly Dividend 11.8% to $0.19; 1.5% Yield

January 21, 2014 4:53 PM EST
Comerica, Inc. (NYSE: CMA) declared a quarterly dividend of $0.19 per share, or $0.76 annualized. This is an 11.8% increase from the prior dividend of $0.17.

The dividend will be payable on April 1, 2014, to stockholders of record on March 14, 2014, with an ex-dividend date of March 12, 2014.

The annual yield on the dividend is 1.5 percent.

"The dividend increase reflects our company's strong capital position and solid financial performance," said Ralph W. Babb Jr., chairman and chief executive officer. "As we have done historically, we expect to continue to actively manage capital in a way that maximizes returns to shareholders while ensuring that we meet regulatory capital requirements. We repurchased 7.4 million shares of common stock in 2013 under our share repurchase program. Combined with dividends, we returned 76 percent of 2013 net income to shareholders."

A first quarter 2014 dividend increase was contemplated under Comerica's 2013 Capital Plan, to which the Federal Reserve did not object last March.

For a dividend history and other dividend-related data on Comerica, Inc. (CMA) click here.

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