DALLAS, April 25, 2017 /PRNewswire/ -- The Board of Directors of Comerica Incorporated today increased the quarterly cash dividend for common stock 13 percent to 26 cents ($0.26) per share. The dividend is payable July 1, 2017, to common stock shareholders of record on June 15, 2017.
"With this three cent increase, our dividend has grown 18 percent over the past year," said Ralph W. Babb Jr., chairman and chief executive officer. "This is a reflection of our increased profitability, capital strength and continued commitment to our shareholders."
This action was taken in conjunction with Comerica's announcement on June 29, 2016, that the Federal Reserve did not object to Comerica's 2016 capital plan and contemplated capital distributions.
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business 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.
SOURCE Comerica Incorporated