M&T Bank Corporation Declares Quarterly Dividend of $1.50 (NYSE:MTB)

Key Points

• M&T Bank declared a quarterly dividend of $1.50 per share, payable June 30 to shareholders of record on June 1, implying a $6.00 annualized dividend and a yield of about 2.7%.
• The dividend appears well covered with a current payout ratio of 37.3% and minimal historical growth (about 0.1% annually over three years); analysts forecast $20.77 EPS next year, implying a projected payout ratio near 28.9%.
• M&T beat the quarter's estimates with $4.18 EPS (vs. $4.02 expected) on $2.44B revenue, and the stock trades around $219 with a market cap of roughly $32.6B and a P/E of about 12.3.

M&T Bank Corporation (NYSE:MTB - Get Free Report) announced a quarterly dividend on Tuesday, April 21st. Investors of record on Monday, June 1st will be given 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 2.7%. The ex-dividend date of this dividend is Monday, June 1st.

M&T Bank has increased 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. Analysts expect M&T Bank to earn $20.77 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 28.9%.

M&T Bank Trading Down 0.3%

NYSE MTB opened at $219.04 on Wednesday. The business has a 50 day simple moving average of $214.16 and a 200 day simple moving average of $204.64. M&T Bank has a one year low of $158.53 and a one year high of $239.00. The stock has a market capitalization of $32.64 billion, a P/E ratio of 12.26, a P/E/G ratio of 1.11 and a beta of 0.60. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.88 and a quick ratio of 0.96.

M&T Bank (NYSE:MTB - Get Free Report) last released its earnings results on Wednesday, April 15th. The financial services provider reported $4.18 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter last year, the firm posted $3.32 earnings per share. Research analysts expect that M&T Bank will post 18.68 earnings per share for the current year.

M&T Bank Company Profile

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.

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