MILWAUKEE, April 26, 2011 /PRNewswire/ -- Marshall & Ilsley Corporation (NYSE: MI) (M&I) today announced its Board of Directors has declared a regular quarterly cash dividend of $0.01 per share on its common stock. The dividend is payable on May 27, 2011, to common stock shareholders of record at the close of business on May 12, 2011.
In addition, the Board of Directors declared a regular quarterly cash dividend of $21,437,500 in the aggregate on its Senior Preferred Stock, Series B. The Senior Preferred Stock, Series B was purchased from M&I by the U.S. Treasury as part of the U.S. Treasury's Capital Purchase Program. The Preferred Stock dividend is payable on May 16, 2011.
Marshall & Ilsley Corporation (NYSE: MI) is a diversified financial services corporation headquartered in Milwaukee, Wis., with $50.8 billion in assets as of December 31, 2010. Founded in 1847, M&I Marshall & Ilsley Bank is the largest Wisconsin-based bank, with 188 offices throughout the state. In addition, M&I has 53 locations throughout Arizona; 36 offices along Florida's west coast and in central Florida; 33 offices in Indianapolis and nearby communities; 26 offices in metropolitan Minneapolis/St. Paul, and one in Duluth, Minn.; 17 offices in the greater St. Louis area; 15 offices in Kansas City and nearby communities; and one office in Las Vegas, Nev. M&I also provides trust and investment management, equipment leasing, mortgage banking, asset-based lending, financial planning, investments, and insurance services from offices throughout the country and on the Internet (www.mibank.com or www.micorp.com).
On December 17, 2010, M&I entered into a definitive agreement under which BMO Financial Group will acquire all outstanding shares of common stock of M&I in a stock-for-stock transaction. Under the terms of the agreement, each outstanding share of M&I will be exchanged for 0.1257 shares of Bank of Montreal upon closing. The transaction is expected to close prior to July 31, 2011. The transaction is subject to customary closing conditions, including regulatory approvals and approval from shareholders of M&I.
SOURCE Marshall & Ilsley Corporation