DALLAS, March 14, 2018 /PRNewswire/ -- Comerica
Incorporated (NYSE: CMA) today announced that in accordance with
the terms of the outstanding legacy Sterling Bancshares, Inc.
warrants (OTC Pink: CMP.WW; CUSIP number 200340 123) ("the Sterling
Warrants") to purchase shares of Comerica Common Stock, par value
$5.00 per share, the Sterling
Warrants exercise price will be reduced to $7.159 per share (from $7.164 per share). This dividend declaration did
not result in a change in the Warrant Share Number of 0.24 per
share. Each of these adjustments will be effective on March 15, 2018. Sterling Warrants exercised on or
prior to March 13, 2018 will not be
entitled to these adjustments.
These adjustments resulted from the declaration by the Comerica
Incorporated Board of Directors on Jan. 23,
2018, of a dividend of $0.30
per share on Comerica Common Stock. The dividend is payable
April 1, 2018, to common stock
shareholders of record at the close of business on March 15, 2018. This declaration did not trigger
the adjustment or carry-forward provisions of the original Comerica
Incorporated warrants.
Further information on the Sterling Warrants and the adjustments
to the Sterling Warrants exercise price and number of shares of
Comerica Common Stock receivable upon exercise, including the
Federal income tax treatment of these adjustments, will be
available in the Investor Relations section of Comerica's website
(www.comerica.com).
Comerica Incorporated (NYSE: CMA) is a financial services
company headquartered in Dallas,
Texas, and strategically aligned by three business segments:
The Business Bank, The Retail Bank, and Wealth Management. Comerica
focuses on relationships, and helping people and businesses be
successful. In addition to Texas,
Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in
several other states, as well as in Canada and Mexico.
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SOURCE Comerica Incorporated