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COMERICA DIRECTORS AUTHORIZE STOCK SPLIT, INCREASE QUARTERLY DIVIDEND

 DETROIT, Nov. 20 ~PRNewswire~ -- The board of directors of Comerica Incorporated (NYSE: CMA) today authorized a 2-for-1 stock split effected in the form of a 100 percent stock dividend, and increased the quarterly cash dividend by 8.5 percent to twenty-five-and-a-half cents ($.255). The dividend will be payable on all shares, including those issued in connection with the stock split.
 Common shareholders will receive one new share for each share registered in their name as of the close of business on Dec. 15, 1992. The split will be payable Jan. 4, 1993, and will increase the number of Comerica common shares outstanding to approximately 114 million.
 The quarterly dividend of twenty-five-and-a-half cents per share will be payable Jan. 4, 1993, to all shareholders of record Dec. 15, 1992. On a pre-split basis, the new quarterly cash dividend per share is fifty-one cents ($.51), 8.5 percent higher than the previous forty-seven cents ($.47) per share dividend.
 Directors also approved a semi-annual dividend of $2.1625 per share on Series B preferred stock, payable Jan. 4, 1993, to shareholders of record Dec. 15, 1992.
 Comerica has fixed Jan. 4, 1993, as the redemption date for the Series B preferred stock. On the redemption day, all outstanding shares of preferred stock will be redeemed at $50 per share plus the accrued and unpaid dividends from Jan. 1 through Jan. 4, 1993. The directors approved a dividend of five cents per share for the period Jan. 1 through Jan. 4, 1993, payable at the time of redemption to shareholders of record Jan. 4, 1993.
 Comerica Incorporated is a bank holding company headquartered in Detroit, that operates banks in Michigan, Illinois, Texas, California and Florida. At Sept. 30, 1992, Comerica's assets totaled $26.7 billion.
 -0- 11~20~92
 ~CONTACT: Media: Sharon R. McMurray, 313-222-4881, or Kathleen A. Pitton, 313-222-4916, or Investors: Leonard B. Carleton, 313-222-4940 or Judith V. Hicks, 313-222-6317, all of Comerica Incorporated~
 (CMA)


CO: Comerica Incorporated ST: Michigan IN: FIN SU: DIV

JG -- DE007 -- 3332 11~20~92 11:42 EST
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Publication:PR Newswire
Date:Nov 20, 1992
Words:340
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