M&T Bank Corporation (MTB) to Issue Quarterly Dividend of $1.50 on March 31st

M&T Bank Corporation (NYSE:MTB) declared a quarterly dividend on Wednesday, February 18th. Shareholders of record on Monday, March 2nd will be given a dividend of 1.50 per share by the financial services provider on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Monday, March 2nd.

M&T Bank has raised its dividend payment by an average of 0.1%annually over the last three years. M&T Bank has a dividend payout ratio of 37.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect M&T Bank to earn $18.68 per share next year, which means the company should continue to be able to cover its $6.00 annual dividend with an expected future payout ratio of 32.1%.

M&T Bank Stock Performance

Shares of NYSE:MTB traded down $8.80 on Friday, hitting $216.56. The company had a trading volume of 1,988,736 shares, compared to its average volume of 1,273,142. The stock has a 50 day moving average price of $218.15 and a 200 day moving average price of $201.43. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.41. The stock has a market cap of $32.27 billion, a price-to-earnings ratio of 12.70, a P/E/G ratio of 0.99 and a beta of 0.60. M&T Bank has a 1-year low of $150.75 and a 1-year high of $239.00.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.25. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the prior year, the firm earned $3.77 EPS. Analysts expect that M&T Bank will post 16.57 EPS for the current year.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid?Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle?market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.