Comerica Declares Quarterly Common Stock Dividend of 68 Cents Per Share; Announces Initial Preferred Stock Dividend

Rhea-AI Summary

The Board of Directors of Comerica Incorporated (NYSE: CMA) declared a quarterly cash dividend of 68 cents per share for common stock, payable on Oct. 1, 2020, to shareholders of record by Sept. 15, 2020. Additionally, an initial dividend of $1,953.125 per share on the Series A Non-Cumulative Perpetual Preferred Stock was announced, also payable on Oct. 1, 2020. Comerica reported total assets of $84 billion as of June 30, 2020, highlighting its strong financial position.

Positive

• Quarterly cash dividend of 68 cents enhances shareholder income.
• Initial dividend on preferred stock reflects confidence in financial stability.
• Total assets of $84 billion indicate strong financial health.

Negative

• None.

DALLAS, July 28, 2020 /PRNewswire/ -- The Board of Directors of Comerica Incorporated (NYSE: CMA) declared a quarterly cash dividend for common stock of 68 cents ($0.68) per share. The dividend is payable Oct. 1, 2020, to common stock shareholders of record at the close of business on Sept. 15, 2020. 

The Board also declared a dividend of $1,953.125 per share (equivalent to $19.53125 per depositary share) on the Series A Non-Cumulative Perpetual Preferred Stock of Comerica Incorporated, payable Oct. 1, 2020, to preferred stock shareholders of record at the close of business on Sept. 15, 2020. This initial dividend is for the long first dividend period from May 26, 2020 to Oct. 1, 2020.

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 $84 billion at June 30, 2020.

 

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SOURCE Comerica Incorporated

FAQ

What is the dividend amount declared by Comerica (CMA)?

The Board of Directors declared a quarterly cash dividend of 68 cents per share.

When is the dividend payable for Comerica common stock?

The dividend is payable on Oct. 1, 2020.

What is the record date for Comerica's common stock dividend?

The record date is Sept. 15, 2020.

What is the total asset value of Comerica as of June 30, 2020?

Comerica reported total assets of $84 billion.

What is the initial preferred stock dividend amount for Comerica?

The initial dividend on the Series A Non-Cumulative Perpetual Preferred Stock is $1,953.125 per share.