M&T Bank Corporation (NYSE:MTB) has announced that its upcoming ex-dividend date is scheduled for November 30th. Shareholders who have invested in the company by this date will be eligible for the dividend payment of $1.30 per share, which will be distributed on December 29th.
The financial institution has a history of maintaining a conservative payout ratio, currently at 29%, which supports its commitment to returning value to shareholders. With an annual distribution totaling $5.20 per share, M&T Bank offers a trailing yield of approximately 4.1%. This steady return is particularly notable given the volatile market conditions that investors have faced.
Over the past five years, M&T Bank's earnings have shown robust growth, with an average annual expansion of 15%. Additionally, the bank's dividends have seen a consistent increase at an average rate of 6.4% annually over the past decade. This track record underscores M&T Bank's appeal as a dividend investment option, especially during times when investors are seeking stability and reliable income streams.
Investors considering adding M&T Bank to their portfolios for its dividend prospects should take note of the upcoming ex-dividend date to ensure they meet the eligibility criteria for the next payout.
InvestingPro Insights
M&T Bank Corporation (NYSE:MTB) not only offers a notable dividend yield but also exhibits strong financial fundamentals that might be of interest to potential investors. According to InvestingPro data, M&T Bank has a market capitalization of $20.85 billion and a compelling P/E ratio of 7.2, which is adjusted to 7.06 for the last twelve months as of Q3 2023. This reflects a valuation that could be attractive compared to near-term earnings growth. The company's revenue growth for the same period stands at an impressive 37.98%, indicating a robust upward trend in earnings.
InvestingPro Tips highlight two key factors that could further influence investor decisions. Firstly, the company's free cash flow exceeds its net income, suggesting high earnings quality. Secondly, management's aggressive share buyback strategy could be a sign of confidence in the company's value and future prospects. For those looking to delve deeper into M&T Bank's financials, it's worth noting that there are over 6 additional InvestingPro Tips available, offering a comprehensive analysis of the company's performance.
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