Summary
Capital One Financial Corporation (COF) announced on July 26, 2018, via an 8-K filing, the declaration of its quarterly common stock dividend. The dividend of $0.40 per share is scheduled to be paid on August 16, 2018, to shareholders of record as of August 6, 2018. This action signals the company's continued commitment to returning capital to its common shareholders. In addition to the common stock dividend, Capital One's Board of Directors also approved quarterly dividends for its various series of preferred stocks. These preferred dividends are slated for payment on September 1, 2018, to respective shareholders of record on August 17, 2018. The total estimated dividend payments for the third quarter of 2018 are approximately $193 million for common stock and $52 million for preferred stock. Investors should note that the company's ability to pay common stock dividends is contingent upon fulfilling preferred stock dividend obligations.
Key Highlights
- 1Quarterly common stock dividend declared at $0.40 per share.
- 2Common stock dividend payable on August 16, 2018, to stockholders of record on August 6, 2018.
- 3Quarterly dividends approved for multiple series of preferred stock.
- 4Preferred stock dividends payable on September 1, 2018, to stockholders of record on August 17, 2018.
- 5Estimated total common stock dividend payout for Q3 2018: approximately $193 million.
- 6Estimated total preferred stock dividend payout for Q3 2018: approximately $52 million.
- 7Company's ability to pay common stock dividends is subject to restrictions if preferred dividends are not paid or set aside.