Comerica to Fully Redeem Series A Preferred Stock by July 2025

Comerica Announces Full Redemption of its Series A Preferred Stock

In a significant move for investors, Comerica Incorporated (NYSE: CMA) has announced its plan to redeem all 4,000 shares of its 5.625% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. This will also include the respective depositary shares which represent a fractional ownership of the preferred stock. This decision is scheduled for execution on July 1, 2025, coinciding with the dividend payment date, marking an important event for shareholders of the bank.

The redemption price for the depositary shares, which equates to $1,000 per share, amounts to a total of $100,000 for each preferred stock share. However, it is crucial to note that this redemption price does not encompass any declared or unpaid dividends. Holders of record prior to the redemption date will still receive their regular quarterly dividends, ensuring investors are not left empty-handed as transitions occur. This practice aligns with Comerica’s commitment to maintaining investor relations during significant changes.

Comerica has confirmed that all regulatory requirements tied to the redemption have been fulfilled, signaling a smooth transition as they proceed with this action. The depositary shares, held via The Depository Trust Company (DTC), will be executed following DTC's established protocols. The payment procedure for shareholders will thus involve Computershare Inc. and Computershare Trust Company, N.A., both acting as the redemption agents.

Investors looking to understand the logistics surrounding their redemption payment are advised to reach out to their respective banks or brokers. This serves as a crucial reminder for shareholders to remain engaged and informed, especially during such important transitions that can impact their investment interests.

Furthermore, while this press announcement may seem routine, it embodies Comerica's broader strategy as a leading financial services firm. Established in 1849 in Detroit, Michigan, Comerica boasts a substantial footprint within the United States, operating not just in Michigan but in states such as California, Florida, and Texas. As one of the top 25 financial holding companies in the U.S., Comerica continually looks for ways to boost shareholder value and academic growth.

With total assets reported at $77.6 billion as of March 31, 2025, Comerica continues to explore new regions, ensuring that they remain on the cutting edge of banking innovation. Their commitment to their business segments of Commercial Banking, Retail Banking, and Wealth Management allows them to cater to varied customer needs, reinforcing relationships with both individuals and enterprises.

As they prepare for this preferred stock redemption, Comerica sets an example of transparency and commitment to their investors, providing guidance and resources needed to navigate through these corporate actions.

Investors and stakeholders may take advantage of detailed information available through Comerica's website and on social media, ensuring they remain well informed regarding ongoing corporate actions. This particular redemption could lead to shifts in investment strategy, particularly for those reliant on preferred stock dividends, underscoring the importance of staying integrated with corporate decisions and developments.