DALLAS, April 24, 2018 /PRNewswire/ -- Comerica
Incorporated (NYSE: CMA) today announced its board of directors
declared a quarterly cash dividend for common stock of 34 cents ($0.34)
per share, a 13 percent increase from the prior quarter. The
dividend is payable July 1, 2018, to
shareholders of record at the close of business on June 15, 2018.
"Today's dividend increase of 13 percent reflects our strong
capital position and solid financial performance," said
Ralph W. Babb Jr., Comerica's
chairman and chief executive officer. "Returning excess capital to
our shareholders remains a priority in 2018."
This action was taken in conjunction with Comerica's
announcement on June 28, 2017, that
the Federal Reserve did not object to the company's annual capital
plan and contemplated capital distributions under the 2017
Comprehensive Capital Analysis and Review (CCAR).
Earlier in the day, Comerica held its annual meeting of
shareholders at Comerica Bank Tower in Dallas, Texas.
Comerica shareholders today elected the following directors to
its Board of Directors for one-year terms: Ralph W. Babb Jr., chairman and chief executive
officer, Comerica Incorporated and Comerica Bank; Michael E. Collins, chair and senior counselor,
Blake Collins Group; Roger A. Cregg,
president and chief executive officer, AV Homes, Inc.; T.
Kevin DeNicola, former chief
financial officer, KiOR, Inc.; Jacqueline
P. Kane, retired executive vice president of Human Resources
and Corporate Affairs, The Clorox Company; Richard G. Lindner, retired senior executive
vice president and chief financial officer, AT&T Inc.;
Barbara R. Smith, chairman,
president and chief executive officer, Commercial Metals Company;
Robert S. Taubman, chairman,
president and chief executive officer, Taubman Centers Inc. and The
Taubman Company; Reginald M. Turner,
Jr., member, Clark Hill PLC; Nina G.
Vaca, chairman and chief executive officer, Pinnacle
Technical Resources, Inc. and Vaca Industries Inc.; and
Michael G. Van de Ven, chief
operating officer, Southwest Airlines Co.
Full biographies for all directors can be found in the Proxy
Statement.
Shareholders also ratified the appointment of Ernst & Young
LLP as independent registered public accounting firm; approved a
non-binding, advisory proposal approving executive compensation;
and approved the Comerica Incorporated 2018 Long-Term Incentive
Plan.
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.
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SOURCE Comerica Incorporated