M&T Bank Corporation (MTB) to Issue Quarterly Dividend of $1.50 on June 30th

M&T Bank Corporation (NYSE:MTB) announced a quarterly dividend on Tuesday, April 21st. Shareholders of record on Monday, June 1st will be paid a dividend of 1.50 per share by the financial services provider on Tuesday, June 30th. This represents a c) annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, June 1st.

M&T Bank has raised its dividend by an average of 0.1%annually over the last three years. M&T Bank has a dividend payout ratio of 37.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect M&T Bank to earn $20.92 per share next year, which means the company should continue to be able to cover its $6.00 annual dividend with an expected future payout ratio of 28.7%.

M&T Bank Price Performance

Shares of NYSE MTB opened at $215.94 on Friday. The stock’s 50-day moving average is $212.06 and its two-hundred day moving average is $209.82. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 0.94. M&T Bank has a 1-year low of $174.76 and a 1-year high of $239.00. The company has a market cap of $31.62 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 1.09 and a beta of 0.59.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.18 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.16. M&T Bank had a return on equity of 11.35% and a net margin of 22.07%.The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the business posted $3.32 EPS. Analysts forecast that M&T Bank will post 18.69 EPS for the current fiscal year.

M&T Bank declared that its board has approved a share repurchase plan on Tuesday, March 31st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 16.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.