Summary
Capital One Financial Corporation (COF) announced on August 4, 2016, through its 8-K filing, the declaration of its quarterly common stock dividend and a related adjustment to its outstanding warrants. The Board of Directors declared a dividend of $0.40 per share, payable on August 18, 2016, to shareholders of record as of August 8, 2016. This dividend marks a positive signal for shareholders, indicating continued confidence in the company's financial health and ability to return capital. Of particular note for warrant holders, the declared dividend of $0.40 per share exceeds the $0.375 threshold triggering an adjustment to the warrant exercise price. Consequently, the exercise price for the company's outstanding warrants will be reduced from $42.059 to $42.043 per share, effective August 8, 2016. This adjustment benefits warrant holders by lowering the cost to acquire Capital One common stock.
Key Highlights
- 1Capital One Financial Corporation declared a quarterly dividend of $0.40 per common share.
- 2The dividend is scheduled to be paid on August 18, 2016.
- 3Stockholders of record as of August 8, 2016, will receive the dividend.
- 4The declared dividend of $0.40 per share exceeds the $0.375 threshold for warrant adjustment.
- 5The exercise price of outstanding warrants will be reduced from $42.059 to $42.043 per share.
- 6The warrant exercise price adjustment will be effective August 8, 2016.
- 7Further details on warrant information are available on the company's investor relations website.