Comerica (CMA)

Comerica Incorporated today announced that it has redeemed the $2.25 billion of preferred stock issued to the U.S. Department of the Treasury under the Troubled Asset Relief Program's Capital Purchase Program (TARP), five days after completing the public issuance of $880 million of its common stock. In addition to the $2.25 billion redemption payment, Comerica paid the U.S. Treasury a total of $150.9 million in dividends on the preferred stock since the date it was issued in November 2008.
By repaying the TARP investment, Comerica will eliminate the annual $134 million negative impact to net income to common shareholders related to the preferred stock.

Mar 18 · 11:19:00 AM · Source: Company Press Release
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by Larry Etter