Marshall & Ilsley Corporation Announces Increase to Quarterly Cash Dividend
April 22 2008 - 12:43PM
PR Newswire (US)
Board reconfirms share repurchase program MILWAUKEE, April 22
/PRNewswire-FirstCall/ -- Marshall & Ilsley Corporation
(NYSE:MI) (M&I) announced at its Annual Shareholders' Meeting
that its board of directors has increased the quarterly cash
dividend on its common stock 3.2 percent to $0.32 per share from
$0.31 per share. The cash dividend is payable on June 13, 2008, to
shareholders of record at the close of business on May 30, 2008. In
addition, the following directors were re-elected: Andrew N. Baur,
chairman of the board, Southwest Bank, an M&I Bank Jon F.
Chait, chairman of the board and chief executive officer, Hudson
Highland Group, Inc. John W. Daniels, Jr., chairman and partner,
Quarles & Brady, L.L.P. Dennis J. Kuester, chairman of the
board, Marshall & Ilsley Corporation David J. Lubar, president,
Lubar & Co. Incorporated John A. Mellowes, chairman and chief
executive officer, Charter Manufacturing Company, Inc. Robert J.
O'Toole, retired, chairman of the board and chief executive
officer, A.O. Smith Corporation San W. Orr, Jr., chairman of the
board and director, Wausau Paper Corp. John S. Shiely, chairman of
the board, president and chief executive officer, Briggs &
Stratton Corporation Debra S. Waller, chairman of the board and
chief executive officer, Jockey International, Inc. George E.
Wardeberg, retired, vice chairman of the board, Wisconsin Energy
Corporation The following members of Marshall & Ilsley
Corporation's board of directors are continuing their terms: Mark
F. Furlong, president and chief executive officer, Marshall &
Ilsley Corporation, and president and chief executive officer,
M&I Marshall & Ilsley Bank Ted D. Kellner, chairman and
chief executive officer, Fiduciary Management, Inc. Katharine C.
Lyall, retired, president, the University of Wisconsin System Peter
M. Platten, III, retired, vice chairman of the board, Marshall
& Ilsley Corporation James B. Wigdale, retired, chairman of the
board, Marshall & Ilsley Corporation The board of directors
also reconfirmed M&I's share repurchase program. This program
gives M&I the ability to purchase annually up to 12 million
shares of its issued and outstanding common stock. Purchases under
this program may be made in the open market or through private
transactions, in block trades, or through accelerated share
repurchase programs or similar facilities. Shareholders approved
the Marshall & Ilsley Corporation Amended and Restated 1994
Long-Term Incentive Plan and also approved the appointment of
Deloitte & Touche LLP to audit the financial statements of the
Company for 2008. In addition, a shareholder proposal to request
the Company's Board of Directors initiate a process to amend the
Company's articles of incorporation to provide for majority
election of directors in non-contested elections was defeated.
Marshall & Ilsley Corporation (NYSE:MI) is a diversified
financial services corporation headquartered in Milwaukee, Wis.,
with $63.4 billion in assets. Founded in 1847, M&I Marshall
& Ilsley Bank is the largest Wisconsin- based bank, with 193
offices throughout the state. In addition, M&I has 51 locations
throughout Arizona; 32 offices in Indianapolis and nearby
communities; 31 offices along Florida's west coast and in central
Florida; 15 offices in Kansas City and nearby communities; 24
offices in metropolitan Minneapolis/St. Paul, and one in Duluth,
Minn.; and one office in Las Vegas, Nev. M&I's Southwest Bank
subsidiary has 17 offices in the greater St. Louis area. M&I
also provides trust and investment management, equipment leasing,
mortgage banking, asset-based lending, financial planning,
investments, and insurance services from offices throughout the
country and on the Internet (http://www.mibank.com/ or
http://www.micorp.com/). M&I's customer-based approach,
internal growth, and strategic acquisitions have made M&I a
nationally recognized leader in the financial services industry.
DATASOURCE: Marshall & Ilsley Corporation CONTACT: Greg Smith,
senior vice president, chief financial officer, +1-414-765-7727, or
Dave Urban, vice president, director of investor relations,
+1-414-765-7853, both of Marshall & Ilsley Corporation Web
site: http://www.micorp.com/
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