DALLAS, Feb. 28, 2023 /PRNewswire/ -- The Board of Directors of Comerica Incorporated (NYSE: CMA) today announced an increase in the quarterly cash dividend for common stock of 3 cents, or 4%, to 71 cents ($0.71) per share. The dividend is payable April 1, 2023, to common stock shareholders of record at the close of business on March 15, 2023.

"Increasing our quarterly dividend by 4% reflects our record earnings, strong capital position and future growth potential," said Curt Farmer, Comerica Chairman, President and Chief Executive Officer. "We view our competitive dividend yield as an important part of our value proposition for shareholders."

In addition, the Board also declared a dividend of $1,406.25 per share (equivalent to $14.0625 per depositary share) on the Series A Non-Cumulative Perpetual Preferred Stock of Comerica Incorporated, payable April 1, 2023, to preferred stock shareholders of record at the close of business on March 15, 2023.

Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Commercial 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. Comerica reported total assets of $85.4 billion as of Dec. 31, 2022.

SOURCE Comerica Incorporated