Comerica (CMA) Declares $0.68 Quarterly Dividend; Approves 10M Share Buyback

April 27, 2021 5:01 PM EDT

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

Comerica (NYSE: CMA) declared a quarterly dividend of $0.68 per share, or $2.72 annualized.

The dividend will be payable on July 1, 2021, to stockholders of record on June 15, 2021, with an ex-dividend date of June 14, 2021.

The annual yield on the dividend is 3.8 percent.

The Board also declared a dividend of $1,406.25 per share (equivalent to $14.0625 per depositary share) on the Series A Non-Cumulative Perpetual Preferred Stock of Comerica Incorporated, payable July 1, 2021, to preferred stock shareholders of record at the close of business on June 15, 2021.

In addition, the Board approved the authorization to repurchase up to an additional 10 million shares of Comerica Incorporated outstanding common stock. This authorization is in addition to the 4.9 million shares remaining at March 31, 2021 under the Board's prior authorizations for the share repurchase program. There is no expiration date for the share repurchase program. The timing and actual amount of share repurchases are subject to various factors, including the Corporation's earnings generation, capital needs to fund future loan growth 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.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Dividends, Stock Buybacks

Related Entities

Dividend, Stock Buyback, Earnings