Wisconsin Banking Update
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M&I Pays Treasury $21.4M Dividend
Posted on June 18th, 2009 No commentsMarshall & Ilsley Corp. will pay a quarterly cash dividend of more than $21.4 million to the U.S. Treasury on the preferred stock it sold to the federal government, the Milwaukee Journal Sentinel reported. M&I sold $1.7 billion in senior preferred shares last November through the U.S. Treasury’s Trouble Asset Relief Program, or TARP. Publicly traded stock banks that took TARP money must pay a 5 percent annual dividend on the preferred shares.
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