BUFFALO, N.Y., June 28, 2018 /PRNewswire/ -- M&T Bank
Corporation ("M&T") (NYSE: MTB) announced today that the
Federal Reserve did not object to M&T's revised 2018 Capital
Plan and its proposed capital actions for the four quarter period
beginning July 1, 2018. The
2018 Capital Plan includes the repurchase of up to $1.8 billion of common shares during that
four-quarter period and an increase in the quarterly common stock
dividend in the third quarter of 2018 of up to $0.20 per share to $1.00 per share. M&T may also continue
to pay dividends and interest on other equity and debt instruments
included in regulatory capital, including preferred stock, trust
preferred securities and subordinated debt that were outstanding at
December 31, 2017, consistent with
the contractual terms of those instruments. Dividends are
subject to declaration by M&T's Board of Directors in the
ordinary course of business. The common stock repurchases
would be executed pursuant to a repurchase program to be considered
by M&T's Board of Directors.
About M&T Bank
M&T is a financial holding
company headquartered in Buffalo, New
York. M&T's principal banking subsidiary, M&T Bank,
operates banking offices in New
York, Maryland,
New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West
Virginia and the District of
Columbia. Trust-related services are provided by M&T's
Wilmington Trust-affiliated companies and by M&T Bank.
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SOURCE M&T Bank Corporation