Le Lézard
Classified in: Business
Subject: DIV

Comerica Announces Adjustments for Legacy Sterling Warrants


DALLAS, Sept. 13, 2018 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA) today announced that in accordance with the terms of the outstanding legacy Sterling Bancshares, Inc. warrants (OTC Pink: CMP.WW; CUSIP number 200340 123) ("the Sterling Warrants") to purchase shares of Comerica Common Stock, par value $5.00 per share, the Sterling Warrants exercise price will be reduced to $7.123 per share (from $7.151 per share). This dividend declaration did not result in a change in the Warrant Share Number of 0.24 per share. Each of these adjustments will be effective on Sept.14, 2018. Sterling Warrants exercised on or prior to Sept. 12, 2018 will not be entitled to these adjustments.

Comerica logo. (PRNewsFoto/Comerica Bank) (PRNewsfoto/Comerica Bank)

These adjustments resulted from the declaration by the Comerica Incorporated Board of Directors on July 24, 2018, of a dividend of $0.60 per share on Comerica Common Stock. The dividend is payable Oct. 1, 2018, to common stock shareholders of record at the close of business on Sept. 14, 2018. This declaration did not trigger the adjustment or carry-forward provisions of the original Comerica Incorporated warrants.

Further information on the Sterling Warrants and the adjustments to the Sterling Warrants exercise price and number of shares of Comerica Common Stock receivable upon exercise, including the Federal income tax treatment of these adjustments, will be available in the Investor Relations section of Comerica's website (www.comerica.com).

Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business 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.

 

SOURCE Comerica Incorporated


These press releases may also interest you

at 10:30
Unifi Aviation is making a pledge to employ 500 refugees over the next three years, a commitment the company made at the second annual TENT U.S. Business Summit on Refugees hosted by Pfizer at its global headquarters in New York City on March 26....

at 10:15
Today, Investopedia announced the winners of its 2024 Best Online Broker Awards, featuring 14 categories highlighting winners whose products and services helped investors navigate rising but volatile markets, a crypto resurgence, and new assets like...

at 10:12
NerdsToGo®, a leading information technology (IT) solutions and technology repair services franchise for both business and home, announced today plans for its strategic expansion throughout the greater Chicago area with 20 new territories available...

at 10:10
The group division of Ameritas proudly announces its 17th consecutive certification as a BenchmarkPortal Center of Excellence, solidifying its position as a leader in customer service and support excellence. This prestigious recognition for 2023...

at 10:00
Frost & Sullivan recently researched the customer experience outsourcing services industry and, based on its findings, recognizes AeC with the 2023 Company of the Year Award. AeC is connecting technology with outstanding customer service to increase...

at 10:00
Seniors Helping Seniors® in-home care services, a franchisor with over 125 franchise partners and more than 200 territories nationwide, has grown rapidly in recent years by building a workforce of talented caregivers who create meaningful...



News published on and distributed by: