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

Key Points

• M&T Bank declared a quarterly dividend of $1.50 per share, payable September 30 to shareholders of record on September 1. The dividend equates to $6.00 annually and a yield of approximately 2.4%.
• The dividend appears well covered, with a current payout ratio of 37.3%; analysts expect next year’s earnings of $21.20 per share, implying a projected payout ratio of 28.3%.
• M&T Bank’s latest quarterly results exceeded expectations, reporting $5.35 EPS versus the $4.66 consensus and revenue of $2.53 billion against estimates of $2.46 billion.

M&T Bank Corporation (NYSE:MTB - Get Free Report) declared a quarterly dividend on Tuesday, August 18th. Shareholders of record on Tuesday, September 1st will be given a dividend of 1.50 per share by the financial services provider on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, September 1st.

M&T Bank has increased its dividend payment by an average of 0.1%per year over the last three years. M&T Bank has a payout ratio of 37.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect M&T Bank to earn $21.20 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 28.3%.

M&T Bank Stock Down 0.4%

MTB stock opened at $251.73 on Wednesday. The firm has a market cap of $36.35 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.18 and a beta of 0.57. M&T Bank has a 1-year low of $174.76 and a 1-year high of $255.95. The firm has a fifty day moving average price of $242.38 and a two-hundred day moving average price of $225.16. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.96 and a quick ratio of 0.96.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.66 by $0.69. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the firm posted $4.28 EPS. Research analysts predict that M&T Bank will post 19.42 EPS 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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