TCF Announces Common Stock Dividend Increase of 50 Percent

WAYZATA, Minn.--(BUSINESS WIRE)--The Board of Directors of TCF Financial Corporation (TCF) (NYSE: TCB) today declared a quarterly cash dividend on TCF’s common stock of $0.075 per share, an increase of $0.025 per share, or 50 percent, from the previous quarterly cash dividend of $0.05 per share. The dividend is payable on December 1, 2015 to stockholders of record at the close of business on November 13, 2015. At September 30, 2015, there were 169.4 million common shares outstanding listed on the New York Stock Exchange under the symbol TCB.

“We are pleased to announce TCF’s first dividend increase since 2008,” said William A. Cooper, chairman and chief executive officer. “We believe that returning capital in the form of a dividend while continuing to invest in high-return growth businesses further demonstrates TCF’s commitment to drive shareholder value.”

The Board of Directors also declared quarterly cash dividends on TCF’s 7.50% Series A Non-Cumulative Perpetual Preferred Stock and 6.45% Series B Non-Cumulative Perpetual Preferred Stock.

A quarterly cash dividend of $0.46875 per depositary share is payable on December 1, 2015 to holders of record of the depositary shares, representing a 1/1,000^th interest in a share of the 7.50% Series A Non- Cumulative Perpetual Preferred Stock, at the close of business on November 13, 2015.

A quarterly cash dividend of $0.403125 per share is payable on December 1, 2015 to holders of record of the 6.45% Series B Non-Cumulative Perpetual Preferred Stock at the close of business on November 13, 2015.

About TCF
TCF is a Wayzata, Minnesota-based national bank holding company. As of June 30, 2015, TCF had $19.8 billion in total assets and 376 branches in Illinois, Minnesota, Michigan, Colorado, Wisconsin, Arizona, South Dakota and Indiana, providing retail and commercial banking services. TCF, through its subsidiaries, also conducts commercial leasing, equipment finance, and auto finance business in all 50 states and commercial inventory finance business in all 50 states and Canada. For more information about TCF, please visit http://ir.tcfbank.com.