TCF Bank 2009 Annual Report Download - page 30

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14 : TCF Financial Corporation and Subsidiaries
Part II
Item 5. Market for Registrant’s
Common Equity, Related
Stockholder Matters and Issuer
Purchases of Equity Securities
TCF’s common stock trades on the New York Stock Exchange
under the symbol “TCB.” The following table sets forth
the high and low prices and dividends declared for TCF’s
common stock. The stock prices represent the high and low
sale prices for the common stock on the New York Stock
Exchange Composite Tape, as reported by Bloomberg.
Dividends
High Low Declared

First Quarter    
Second Quarter   
Third Quarter   
Fourth Quarter   
2008
First Quarter $22.04 $14.65 $.25
Second Quarter 19.31 11.91 .25
Third Quarter 28.00 9.25 .25
Fourth Quarter 20.00 11.22 .25
As of January 29, 2010, there were 7,577 holders of
record of TCF’s common stock.
The Board of Directors of TCF Financial has adopted a
Capital Plan and Dividend Policy. The policy denes how
enterprise risk related to capital will be managed, how the
adequacy of capital will be measured and the process by
which capital strategy, capital management and common
stock dividend recommendations will be presented to
TCF’s Board of Directors. TCF’s management is charged
with ensuring that capital strategy actions, including the
declaration of common stock dividends, are prudent,
efcient and provide value to TCF’s shareholders, while
ensuring that past and prospective earnings retention is
consistent with TCF’s capital needs, asset quality and
overall nancial condition. The Board of Directors intends
to continue its practice of paying quarterly cash dividends
on TCF’s common stock as justied by the nancial
condition of TCF. The declaration and amount of future
dividends will depend on circumstances existing at the time,
including TCF’s earnings, level of internally generated
common capital excluding earnings, nancial condition
and capital requirements, the cash available to pay such
dividends (derived mainly from dividends and distributions
from TCF Bank), as well as regulatory and contractual
limitations and such other factors as the Board of Directors
may deem relevant. In general, TCF Bank may not declare or
pay a dividend to TCF in excess of 100% of its net retained
prots for that year combined with its net retained prots
for the preceding two calendar years without prior approval
of the OCC. Restrictions on the ability of TCF Bank to pay
cash dividends or possible diminished earnings of TCF
may limit the ability of TCF to pay dividends in the future
to holders of its common stock. See “Item 1. Business
— Regulation — Regulatory Capital Requirements,” “Item 1.
Business — Regulation — Restrictions on Distributions” and
Note 14 of Notes to Consolidated Financial Statements.