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M&T unveils $745 million buyback, declares dividend

M&T Bank Corp. on Wednesday said its board approved another buyback for up to $745 million of common stock through June 30.

The new stock repurchase program comes on top of a previously announced $900 million buyback that the board authorized under the Buffalo-based bank's 2017 capital plan. The repurchased shares will be held in the bank's treasury as authorized but unissued stock, for use in the future.

M&T also declared a 75-cent-per-share quarterly cash dividend, payable March 30 to shareholders of record on March 5.

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