M&T BANK CORP
For the period ended Dec 31, 2024. Filed Feb 19, 2025.
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FY2024 · Filed Feb 19, 2025
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Earnings per common share
- Earnings per common share
The computations of basic earnings per common share follow:
| Year Ended December 31, | |||
|---|---|---|---|
| (Dollars in millions, except per share, shares in thousands) | 2024 | 2023 | 2022 |
| Income available to common shareholders: | |||
| Net income | $2,588 | $2,741 | $1,992 |
| Less: Preferred stock dividends | (134) | (100) | (97) |
| Net income available to common equity | 2,454 | 2,641 | 1,895 |
| Less: Income attributable to unvested stock-based compensation awards | (5) | (5) | (4) |
| Net income available to common shareholders | $2,449 | $2,636 | $1,891 |
| Weighted-average shares outstanding: | |||
| Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards | 166,806 | 166,662 | 163,489 |
| Less: Unvested stock-based compensation awards | (327) | (301) | (315) |
| Weighted-average shares outstanding | 166,479 | 166,361 | 163,174 |
| Basic earnings per common share | $14.71 | $15.85 | $11.59 |
The computations of diluted earnings per common share follow:
| Year Ended December 31, | |||
|---|---|---|---|
| (Dollars in millions, except per share, shares in thousands) | 2024 | 2023 | 2022 |
| Net income available to common equity | $2,454 | $2,641 | $1,895 |
| Less: Income attributable to unvested stock-based compensation awards | (5) | (5) | (4) |
| Net income available to common shareholders | $2,449 | $2,636 | $1,891 |
| Adjusted weighted-average shares outstanding: | |||
| Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards | 166,806 | 166,662 | 163,489 |
| Less: Unvested stock-based compensation awards | (327) | (301) | (315) |
| Plus: Incremental shares from assumed conversion of stock-based compensation awards | 840 | 641 | 856 |
| Adjusted weighted-average shares outstanding | 167,319 | 167,002 | 164,030 |
| Diluted earnings per common share | $14.64 | $15.79 | $11.53 |
Stock-based compensation awards to purchase common stock of M&T representing common shares of 755,000 in 2024,1,834,000 in 2023 and 453,000 in 2022 were not included in the computations of diluted earnings per common share because the effect on those years would have been antidilutive.
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