BUFFALO, N.Y., June 27, 2019 /PRNewswire/ -- M&T Bank Corporation ("M&T") MTB announced today its 2019 Capital Plan, which covers the four-quarter period beginning July 1, 2019. The 2019 Capital Plan, which has been reviewed and approved by M&T's Board of Directors, reflects capital distributions within the amount that M&T can make over the specified period based on the prior approval of the Board of Governors of the Federal Reserve System.
M&T's 2019 Capital Plan reflects net capital distributions of approximately $1.9 billion, which include common and preferred stock dividends as well as repurchases of M&T's common stock. M&T's Board of Directors may consider an increase in the common stock dividend, at its discretion, during the four-quarter period. All dividends are subject to declaration by M&T's Board of Directors in the ordinary course of business. The common stock repurchases would be executed pursuant to a repurchase program to be considered by M&T's Board of Directors.
About M&T Bank
M&T is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, operates banking offices in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia. Trust-related services are provided by M&T's Wilmington Trust-affiliated companies and by M&T Bank.
Investor Contact:
Donald J. MacLeod
(716) 842‑5138
Media Contact:
C. Michael Zabel
(716) 842-5385
SOURCE M&T Bank Corporation
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.