Category: Markets
Published: 2026-07-16T13:11:52.000Z
M&T Bank Corporation plans to offer Series L preferred depositary shares, each representing a 1/400th interest in a share of its perpetual non-cumulative preferred stock. These shares will have a $10,000 liquidation preference per preferred share and dividends, if declared, will be non-cumulative and paid quarterly. The company expects to use the net proceeds for general corporate purposes, potentially including the redemption of existing preferred stock.
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