The Detroit-based financial institution declared a quarterly cash dividend of $0.30 per share for common stock, which will be paid out on August 14. Investors must be on the company’s record as of July 31 to qualify for this distribution.

Simultaneously, the board authorized payments for its Series C and Series D preferred stock, scheduled for release on August 15. The 4.700% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series C, will yield approximately $11.8 million in total, or $11.75 per share. The 7.100% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series D, will distribute roughly $20.5 million, equating to $20.51 per share. Both preferred dividend payments follow the same July 31 record date requirement applied to common shareholders.