Summary
Capital One Financial Corporation (COF) announced on May 4, 2016, through its Board of Directors, the declaration of a quarterly dividend of $0.40 per share. This dividend is a key indicator of the company's commitment to returning value to its shareholders and reflects confidence in its ongoing financial performance. A notable event tied to this dividend declaration is an adjustment to the exercise price of the company's outstanding warrants. Due to the dividend exceeding $0.375 per share, the warrant exercise price will be reduced from $42.074 to $42.059 per share, effective May 16, 2016. This adjustment is a standard provision in warrant agreements, designed to protect warrant holders from dilution.
Key Highlights
- 1Capital One declared a quarterly dividend of $0.40 per common share.
- 2The dividend is payable on May 26, 2016.
- 3The record date for the dividend is May 16, 2016.
- 4The declared dividend exceeds the $0.375 threshold that triggers a warrant exercise price adjustment.
- 5The exercise price of outstanding warrants will be reduced from $42.074 to $42.059 per share.
- 6The warrant exercise price adjustment is effective as of the close of business on May 16, 2016.
- 7Further details on warrant information are available on the company's website.
Frequently Asked Questions
Capital One Financial Corporation declared a quarterly dividend of $0.40 per share on its outstanding common stock.
The dividend is scheduled to be paid on May 26, 2016.
Because the declared dividend of $0.40 per share exceeds the $0.375 threshold specified in the warrant terms, the exercise price of the outstanding warrants will be reduced from $42.074 to $42.059 per share. This adjustment is effective May 16, 2016.
Additional information regarding the warrants and the adjustments to the warrant exercise price can be found on Capital One's website by navigating to 'About Us,' then 'Investors,' and selecting 'Warrant Information' under the 'Stock Information' heading.