Summary
Capital One Financial Corporation (COF) filed an 8-K on November 4, 2019, reporting on dividend declarations made by its Board of Directors on October 31, 2019. The company announced a quarterly common stock dividend of $0.40 per share, payable on November 22, 2019. This declaration represents a regular distribution to shareholders, signaling continued confidence in the company's financial position. In addition to common stock dividends, Capital One also declared quarterly and semi-annual dividends for various series of its perpetual preferred stock. These preferred dividends, totaling approximately $97 million, are payable on December 2, 2019. The filing also clarifies the conditions under which the company's ability to pay common stock dividends or repurchase shares is subject to the declaration and payment of preferred stock dividends, a standard provision for maintaining preferred shareholder priority.
Key Highlights
- 1Declaration of a quarterly common stock dividend of $0.40 per share, payable on November 22, 2019.
- 2Record date for the common stock dividend is November 12, 2019.
- 3Declaration of quarterly and semi-annual dividends for multiple series of perpetual preferred stock.
- 4Preferred stock dividends are payable on December 2, 2019.
- 5Total expected dividend payments for the fourth quarter of 2019 are approximately $185 million for common stock and $97 million for preferred stock.
- 6The ability to pay common stock dividends is contingent on the declaration and payment of preferred stock dividends.