Company: CMA
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000028412-25-000235
Chunk: 122

Company: COMERICA INC
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 1
Chunk 122
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. Holders of the depositary shares are entitled to all proportional rights and preferences of the Series B Preferred Stock (including dividend, voting, redemption and liquidation rights). The $400 million issuance yielded approximately $392 million in proceeds, net of underwriting discounts and offering expenses. When declared, dividends will be payable quarterly on the 1st day of January, April, July and October of each year, commencing on January 1, 2026 (long first dividend period). In accordance with the terms of the Series B Preferred Stock, the Corporation anticipates the first dividend for the long first dividend period will be $11 million, payable on January 1, 2026 and recognized during the fourth quarter of 2025. Subsequent quarterly dividends, if declared, will be for $7 million and will be similarly recognized during the prior quarter. Refer to Note 9 to the consolidated financial statements for further discussion of the preferred stock. 

The following table summarizes the Corporation's repurchase activity during the nine months ended September 30, 2025.

(shares in thousands)Total Number of Shares Purchased as Part of Publicly Announced Repurchase Plans or ProgramsRemaining ShareRepurchaseAuthorization (a)Total Numberof SharesPurchased (b)Average PricePaid Per ShareTotal first quarter 2025747 12,751 755 $65.82 Total second quarter 20251,761 10,990 1,763 56.77 July 1 - 31, 20251,225 9,765 1,227 65.27 August 1 - 31, 2025856 8,909 856 67.54 September 1 - 30, 2025151 8,758 151 70.07 Total third quarter 20252,232 8,758 2,234 66.46 Total 2025 through September 30, 20254,740 8,758 4,752 62.77 

(a)Maximum number of shares of common stock that may be repurchased under the publicly announced plans or programs.

(b)Consists of approximately 12,000 shares of common stock purchased related to deferred compensation plans during the nine months ended September 30, 2025 and is not considered part of the Corporation's repurchase program.

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In July 2025, the Corporation announced that it intended to repurchase