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SOURCE M&T Bank Corporation
BUFFALO, N.Y., March 15, 2013 /PRNewswire/ -- M&T Bank Corporation ("M&T") (NYSE: MTB) announced today that it, along with 10 other large bank holding companies, participated in the Federal Reserve's 2013 Capital Plan Review (CapPR 2013) process. The Federal Reserve did not object to the capital distributions reflected in M&T's 2013 Capital Plan, which was approved by its board of directors and submitted in connection with CapPR 2013. M&T will maintain its common stock dividend at its current annual rate of $2.80 per share, subject to approval by M&T's board of directors in the ordinary course of business. M&T's common stock dividend has been unchanged since 2007 and represents a 2.68% yield based upon yesterday's closing price. M&T will also continue to pay dividends and interest on other existing equity and debt instruments included in its regulatory capital.
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, Pennsylvania, Maryland, Virginia, West Virginia, Delaware and the District of Columbia. Trust-related services are provided by M&T's Wilmington Trust-affiliated companies and by M&T Bank.