M&T Bank plans net capital distributions of approximately $1.9B
M&T Bank announced its 2019 Capital Plan, which covers the four-quarter period beginning July 1. The 2019 Capital Plan, which has been reviewed and approved by M&T's Board of Directors, reflects capital distributions within the amount that M&T can make over the specified period based on the prior approval of the Board of Governors of the Federal Reserve System. M&T's 2019 Capital Plan reflects net capital distributions of approximately $1.9B, which include common and preferred stock dividends as well as repurchases of M&T's common stock. M&T's Board of Directors may consider an increase in the common stock dividend, at its discretion, during the four-quarter period. All 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.