Summary
This 8-K filing by Capital One Financial Corporation (COF) primarily announces a routine quarterly dividend declaration and a consequential adjustment to outstanding warrants. The Board of Directors declared a quarterly dividend of $0.40 per share, payable on May 21, 2015, to shareholders of record on May 11, 2015. This dividend payment, exceeding the $0.375 threshold, triggers an automatic adjustment to the exercise price of the Company's outstanding warrants.
Key Highlights
- 1Capital One Financial Corporation declared a quarterly dividend of $0.40 per share.
- 2The dividend payment date is May 21, 2015.
- 3Stockholders of record on May 11, 2015, will receive the dividend.
- 4The declared dividend exceeds $0.375 per share, triggering a warrant adjustment.
- 5The exercise price of outstanding warrants will be reduced from $42.130 to $42.117 per share.
- 6This warrant price adjustment is effective as of the close of business on May 11, 2015.
- 7Further details on warrant adjustments are available on the Company's website.
Frequently Asked Questions
The main purpose of this filing is to announce Capital One's Board of Directors' declaration of its quarterly dividend and to inform stakeholders about the resulting adjustment to the exercise price of the company's outstanding warrants due to this dividend declaration.
The quarterly dividend declared is $0.40 per share. It is payable on May 21, 2015, to shareholders who are of record at the close of business on May 11, 2015.
Yes, because the declared dividend of $0.40 per share exceeds the $0.375 threshold outlined in the warrant terms, the exercise price of the outstanding warrants will be reduced. The price will decrease from $42.130 to $42.117 per share, effective May 11, 2015.
Additional information regarding the warrants and the adjustments to their exercise price is available on Capital One's website by navigating to 'About Us,' then 'Investors,' and selecting 'Warrant Information' under the 'Stock Information' heading.