What’s Going On with CMA?
Comerica Inc. (CMA) stock was up 2.75% after the Dallas-based bank and financial services company announced a quarterly cash dividend would of $0.68 per share, and the board authorized repurchase of up to 10 million more shares of outstanding common stock. CMA shares were trading at $73.71 per share on Wednesday morning, up from $72.05 opening price.
What Does It Mean for Comerica?
Comerica declared a quarterly cash dividend of $0.68 per share, and a dividend of $1,406.25 per share on the Series A Non-Cumulative Perpetual Preferred Stock. Both are payable July 1 to shareholders of record by the end of day on June 15.
At its annual shareholder meeting on Tuesday (April 27), the company appointed a slate of board members to one-year terms and approved authorizing the board to repurchase up to 10 million additional shares of Comerica common stock. This raises the previously authorized 4.9 million share ceiling as of the end of March.
Comerica, which had total assets of $86.3 billion through the end of the first quarter, appointed the following directors to one-year terms: Michael E. Collins, Roger A. Cregg, T. Kevin DeNicola, Curtis C. Farmer, Jacqueline P. Kane, Richard G. Lindner, Barbara R. Smith, Robert S. Taubman, Reginal M. Turner, Jr., Nina G. Vaca, and Michael G. Van de Ven.
CMA has an Overall Score of 70. Find out what this means to you and get the rest of the rankings on CMA!
Comerica is a financial services company headquartered in Dallas. Comerica is primarily focused on relationship-based commercial banking. In addition to Texas, Comerica's other primary geographies are California and Michigan, with locations also found in Arizona and Florida, with select businesses operating in several other states as well as in Canada.
