Comerica Raises Cash Dividend Amid Increased Share Repurchase Authorization

On November 5, 2024, the Board of Directors of Comerica Incorporated, headquartered in Dallas, declared a dividend of 71 cents per share for common stock. This payment will be issued on January 1, 2025, to shareholders recorded by December 13, 2024. Additionally, a dividend of $1,406.25 per share on the Series A Non-Cumulative Perpetual Preferred Stock was also announced, payable under the same conditions. The Board approved an increase in the share repurchase program, now allowing for the purchase of up to 10 million additional common shares, alongside the remaining 5 million shares under the previous authorization. The share repurchase initiative reflects the company’s strategic approach to capital management, without a specified expiration date. Factors influencing the timing and extent of these repurchases include earnings, future loan growth needs, and prevailing market conditions. Comerica celebrates its 175th anniversary this year, reinforcing its longstanding presence in financial services. With a diverse operational structure comprising The Commercial Bank, The Retail Bank, and Wealth Management, the company maintains a significant footprint across 17 states and services major metropolitan areas in the U.S., Canada, and Mexico. As of September 30, 2024, Comerica reported total assets valued at $79.7 billion, underlining its robust market position and capacity for continued growth. As the financial institution adapts to market conditions, the recent declarations signify Comerica's efforts not just to reward its shareholders, but also to actively manage its capital and foster future financial strength.