Comerica (CMA) Raises Quarterly Dividend 11.7% to $0.67; Approves 15M Share Buyback

January 22, 2019 4:18 PM EST

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Comerica (NYSE: CMA) declared a quarterly dividend of $0.67 per share, or $2.68 annualized. This is an 11.7% increase from the prior dividend of $0.60.

The dividend will be payable on April 1, 2019, to stockholders of record on March 15, 2019, with an ex-dividend date of March 14, 2019.

The annual yield on the dividend is 3.3 percent.

"Today's increase reflects our solid capital position and strong earnings performance as well as our future growth potential," said Ralph W. Babb Jr., Comerica's chairman and chief executive officer.

In addition, the Board approved the authorization to repurchase up to an additional 15.0 million shares of Comerica Incorporated outstanding common stock. This action is in addition to the 4.7 million shares remaining at December 31, 2018 under the Board's prior authorizations for the share repurchase program. The timing and amount of equity repurchases are subject to various factors, including the company's financial performance and market conditions. Shares will be purchased occasionally in the open market, through privately negotiated transactions, utilizing Rule 10b5-1 plans or otherwise. The repurchased shares may be held as treasury stock or retired.

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

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