Summary
This 8-K filing from Capital One Financial Corporation announces a quarterly dividend declaration and a subsequent adjustment to the exercise price of outstanding warrants. The Board of Directors declared a dividend of $0.40 per share, an increase from the previous $0.375 threshold. This dividend is payable on February 23, 2018, to shareholders of record as of February 12, 2018. As a result of the dividend exceeding the $0.375 threshold, the exercise price of the Company's outstanding warrants, which expire on November 14, 2018, will be adjusted downwards. The warrant exercise price will be reduced from $41.979 to $41.968 per share, effective February 12, 2018. Investors holding these warrants should note this favorable adjustment to their potential equity purchase cost.
Key Highlights
- 1Capital One declared a quarterly common stock dividend of $0.40 per share.
- 2The dividend payment date is February 23, 2018.
- 3Stockholders of record as of February 12, 2018, will receive the dividend.
- 4The declared dividend of $0.40 per share exceeds the $0.375 threshold that triggers a warrant price adjustment.
- 5The exercise price of outstanding warrants will be reduced from $41.979 to $41.968 per share.
- 6The warrant exercise price adjustment is effective February 12, 2018.
- 7Outstanding warrants expire on November 14, 2018.