Comerica Raises Quarterly Dividend to 71 Cents, a 4 Percent Increase

Comerica Incorporated (NYSE: CMA) announced a 4% increase in its quarterly cash dividend, raising it to $0.71 per share, effective April 1, 2023.

Rhea-AI Summary

Comerica Incorporated (NYSE: CMA) announced a 4% increase in its quarterly cash dividend, raising it to $0.71 per share, effective April 1, 2023. This dividend, reflecting the company’s strong earnings and capital position, is payable to shareholders of record as of March 15, 2023. In addition, a dividend of $1,406.25 per share on the Series A Non-Cumulative Perpetual Preferred Stock will also be paid on the same date. Comerica operates with total assets of $85.4 billion as of December 31, 2022, and emphasizes its competitive dividend yield as a key element of shareholder value.

Positive

• Quarterly dividend increased by 4% to $0.71, reflecting strong earnings.
• Confidence in future growth potential supports the dividend increase.

Negative

• None.

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DALLAS, Feb. 28, 2023 /PRNewswire/ -- The Board of Directors of Comerica Incorporated (NYSE: CMA) today announced an increase in the quarterly cash dividend for common stock of 3 cents, or 4%, to 71 cents ($0.71) per share. The dividend is payable April 1, 2023, to common stock shareholders of record at the close of business on March 15, 2023.

"Increasing our quarterly dividend by 4% reflects our record earnings, strong capital position and future growth potential," said Curt Farmer, Comerica Chairman, President and Chief Executive Officer. "We view our competitive dividend yield as an important part of our value proposition for shareholders."

In addition, 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 April 1, 2023, to preferred stock shareholders of record at the close of business on March 15, 2023.

Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Commercial 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 $85.4 billion as of Dec. 31, 2022.

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SOURCE Comerica Incorporated

FAQ

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What is the new dividend amount for Comerica (CMA)?

The new dividend amount is $0.71 per share.

When is the dividend payable for Comerica (CMA)?

The dividend is payable on April 1, 2023.

What is the record date for the dividend for Comerica (CMA)?

The record date is March 15, 2023.

How much is the preferred stock dividend for Comerica (CMA)?

The dividend for the Series A Non-Cumulative Perpetual Preferred Stock is $1,406.25 per share.

What has contributed to Comerica's dividend increase?

The increase is attributed to record earnings and a strong capital position.