Comerica Declares Dividends; Announces Results from Annual Shareholders'; Meeting

Rhea-AI Summary

On April 25, 2023, Comerica Incorporated (NYSE: CMA) announced a quarterly cash dividend of $0.71 per share for common stock, payable on July 1, 2023, to shareholders of record by June 15, 2023. Additionally, a dividend of $1,406.25 per share on Series A Non-Cumulative Perpetual Preferred Stock will also be paid on the same date. During the annual shareholders meeting, Comerica's board members, including Nancy Avila and Jennifer H. Sampson, were elected for one-year terms. Shareholders ratified the appointment of Ernst & Young LLP as the independent auditor and approved an advisory proposal on executive compensation frequency.

Comerica, headquartered in Dallas, Texas, reported total assets of $91.1 billion as of March 31, 2023, and continues to expand its banking services across multiple states.

Positive

• Declared a quarterly cash dividend of $0.71 per share, reflecting strong income for shareholders.
• Declared a dividend of $1,406.25 on Series A Preferred Stock, indicating confidence in financial stability.
• Total assets reported at $91.1 billion as of March 31, 2023, showcasing company growth.

Negative

• None.

DALLAS, April 25, 2023 /PRNewswire/ -- The Board of Directors of Comerica Incorporated (NYSE: CMA) declared a quarterly cash dividend for common stock of 71 cents ($0.71) per share. The dividend is payable July 1, 2023, to shareholders of record at the close of business on June 15, 2023.

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, 2023, to preferred stock shareholders of record at the close of business on June 15, 2023.

Earlier in the day, Comerica held its annual meeting of shareholders. Comerica shareholders elected the following directors to its Board of Directors for one-year terms:

Nancy Avila	Jennifer H. Sampson
Michael E. Collins	Barbara R. Smith
Roger A. Cregg	Robert S. Taubman
Curtis C. Farmer	Reginald M. Turner, Jr.
Jacqueline P. Kane	Nina G. Vaca
Derek J. Kerr	Michael G. Van de Ven
Richard G. Lindner

Full biographies and company affiliations for all directors can be found in the Proxy Statement.

Shareholders also ratified the appointment of Ernst & Young LLP as independent registered public accounting firm; approved a non-binding, advisory proposal approving executive compensation; and recommended, through a non-binding advisory vote, that the frequency with which shareholders are to be presented with advisory proposals approving executive compensation should be every year.

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, one of the 25 largest U.S. financial holding companies, focuses on building relationships and helping people and businesses be successful. Comerica provides more than 400 banking centers across the country with locations in Arizona, California, Florida, Michigan and Texas. Founded nearly 174 years ago in Detroit, Michigan, Comerica continues to expand into new regions, including its Southeast Market, based in North Carolina, and Mountain West Market in Colorado. Comerica has offices in 17 states and services 14 of the 15 largest U.S. metropolitan areas, as well as Canada and Mexico. Comerica reported total assets of $91.1 billion at March 31, 2023. Learn more about how Comerica is raising expectations of what a bank can be by visiting www.comerica.com, and follow us on Facebook, Twitter, Instagram and LinkedIn.  

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SOURCE Comerica Incorporated

FAQ

What is the dividend amount for Comerica (CMA) announced on April 25, 2023?

Comerica announced a quarterly cash dividend of $0.71 per share for common stock.

When is the dividend payable for Comerica (CMA)?

The dividend is payable on July 1, 2023.

What is the record date for Comerica's dividend payment?

The record date for the dividend payment is June 15, 2023.

What was the total asset amount reported by Comerica (CMA) as of March 31, 2023?

Comerica reported total assets of $91.1 billion.