DALLAS, April 26, 2016 /PRNewswire/ -- The Board of Directors of Comerica Incorporated today increased the quarterly cash dividend for common stock 5 percent to 22 cents($0.22) per share. The dividend is payable July 1, 2016, to common stock shareholders of record on June 15, 2016.
"The dividend increase reflects our company's solid capital position and our continued confidence in Comerica's business model and growth prospects," said Ralph W. Babb Jr., chairman and chief executive officer. "As we have done historically, we expect to continue to actively manage capital in a way that maximizes returns to shareholders while ensuring that we meet regulatory capital requirements."
This action was taken in conjunction with Comerica's announcement on March 11, 2015, that the Federal Reserve did not object to Comerica's 2015 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.