Comerica Directors Declare Dividend
Board authorizes share repurchase program
PR Newswire
DALLAS, Nov. 5, 2019
DALLAS, Nov. 5, 2019 /PRNewswire/ -- The Board of Directors of Comerica Incorporated (NYSE: CMA) today declared a quarterly cash dividend for common stock of 67 cents ($0.67) per share. The dividend is payable January 1, 2020, to common stock shareholders of record at the close of business on December 13, 2019.
In addition, the Board approved the authorization to repurchase up to an additional 7.0 million shares of Comerica Incorporated outstanding common stock. This authorization is in addition to the 3.2 million shares remaining at September 30, 2019 under the Board's prior authorizations for the share repurchase program. The company continues to target a common equity Tier 1 capital ratio of approximately 10 percent with continued active capital management. The timing and actual amount of share 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.
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