M&T Bank Corporation Buyback
OLI recorded this information on 1/20/2021
M&T Bank Corporation
M&T Bank Corporation ("M&T") (NYSE:MTB) announced that its Board of Directors authorized a stock repurchase program of up to $800 million of shares of common stock, $0.50 par value per share, on the open market or in privately negotiated transactions. The Federal Reserve modified its prior restrictions on capital distributions, allowing banks to maintain their per share common stock dividend and repurchase common stock, provided that the aggregate capital distributions do not exceed the average amount of the firm's net income over the four preceding calendar quarters. In addition to regulatory considerations, M&T assesses the economic environment, its earnings outlook and capital position and alternative capital deployment opportunities prior to any repurchase decision.
M&T Bank is a bank holding company. Through its subsidiaries, Co. provides individuals, corporations and other businesses, and institutions with commercial and retail banking services, including loans and deposits, trust, mortgage banking, asset management, insurance and other financial services. Banking activities are primarily focused on consumers residing in New York State, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia and on small and medium-size businesses based in those areas. Certain subsidiaries also conduct activities in other areas.
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Hold (2.45 out of 4)