Comerica (CMA) Raises Quarterly Dividend 4.8% to $0.22; 2% Yield

April 26, 2016 2:41 PM EDT

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Comerica (NYSE: CMA) declared a quarterly dividend of $0.22 per share, or $0.88 annualized. This is a 4.8% increase from the prior dividend of $0.21.

The dividend will be payable on July 1, 2016, to stockholders of record on June 15, 2016, with an ex-dividend date of June 13, 2016.

The annual yield on the dividend is 2 percent.

"The dividend increase reflects our company's solid capital position and our continued confidence in Comerica's business model and growth prospects," 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."

This action was taken in conjunction with Comerica's announcement on March 11, 2015, that the Federal Reserve did not object to Comerica's 2015 capital plan and contemplated capital distributions.

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

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