M&T Bank Corporation (NYSE:MTB) to Issue Dividend Increase - $1.50 Per Share

Key Points

• M&T Bank Corporation announced a quarterly dividend of $1.50 per share, reflecting an 11.1% increase from the prior dividend of $1.35.
• The bank's dividend payout ratio stands at 33.5%, indicating strong earnings support for future dividend payments.
• M&T Bank's stock has recently seen a slight decline of 0.2%, trading at approximately $190.35 per share, with a market capitalization of $29.75 billion.

M&T Bank Corporation (NYSE:MTB - Get Free Report) declared a quarterly dividend on Tuesday, August 19th, RTT News reports. Stockholders of record on Tuesday, September 2nd will be paid a dividend of 1.50 per share by the financial services provider on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.2%. This is a 11.1% increase from M&T Bank's previous quarterly dividend of $1.35.

M&T Bank has a dividend payout ratio of 33.5% meaning its dividend is sufficiently covered by earnings. Analysts expect M&T Bank to earn $18.68 per share next year, which means the company should continue to be able to cover its $5.40 annual dividend with an expected future payout ratio of 28.9%.

M&T Bank Stock Down 0.2%

MTB stock traded down $0.3210 during trading on Tuesday, hitting $190.3490. 640,233 shares of the company's stock traded hands, compared to its average volume of 908,218. The firm has a market capitalization of $29.75 billion, a P/E ratio of 12.18, a PEG ratio of 0.93 and a beta of 0.63. The business has a fifty day simple moving average of $191.86 and a two-hundred day simple moving average of $183.55. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.47. M&T Bank has a 1 year low of $150.75 and a 1 year high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $4.28 EPS for the quarter, topping the consensus estimate of $4.04 by $0.24. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the previous year, the firm posted $3.73 earnings per share. Sell-side analysts anticipate that M&T Bank will post 16.57 EPS for the current year.

About M&T Bank

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.

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