Comerica Declares Dividends; Announces Results from Annual Shareholders' Meeting

Rhea-AI Summary

Comerica Incorporated (NYSE: CMA) has declared a quarterly cash dividend of $0.68 per share, payable on July 1, 2022, to shareholders of record by June 15, 2022. Additionally, a dividend of $1,406.25 per share on its Series A Preferred Stock is also set for payment on the same date. During its annual shareholder meeting, new directors were elected and Ernst & Young LLP was ratified as the independent auditor. As of March 31, 2022, Comerica reported total assets of $89.2 billion.

Positive

• Quarterly dividend of $0.68 enhances shareholder income.
• Series A Preferred Stock dividend of $1,406.25 demonstrates strong financial health.
• Total assets reported at $89.2 billion indicate robust stability.

Negative

• None.

DALLAS, April 26, 2022 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA) announced its Board of Directors declared a quarterly cash dividend for common stock of 68 cents ($0.68) per share. The dividend is payable July 1, 2022, to shareholders of record at the close of business on June 15, 2022.

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, 2022, to preferred stock shareholders of record at the close of business on June 15, 2022.

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:

Michael E. Collins	Barbara R. Smith
Roger A. Cregg	Robert S. Taubman
Curtis C. Farmer	Reginald M. Turner, Jr.
Nancy Flores	Nina G. Vaca
Jacqueline P. Kane	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 and approved a non-binding, advisory proposal approving executive compensation.

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 $89.2 billion at March 31, 2022.

 

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SOURCE Comerica Incorporated

FAQ

What is the dividend amount declared by Comerica for common stock?

Comerica has declared a dividend of $0.68 per share for common stock.

When will Comerica's dividends be paid?

The dividends are payable on July 1, 2022.

What is the record date for the dividend payment to shareholders?

The record date for the dividend payment is June 15, 2022.

What is the amount of the Series A Preferred Stock dividend?

The Series A Preferred Stock dividend is $1,406.25 per share.

What total assets did Comerica report as of March 31, 2022?

Comerica reported total assets of $89.2 billion as of March 31, 2022.