Summary
Capital One Financial Corporation (COF) announced on April 29, 2020, via an 8-K filing, its intention to pay regular quarterly dividends. The Board of Directors declared a common stock dividend of $0.40 per share, payable on May 21, 2020, to shareholders of record as of May 11, 2020. This action signals continued commitment to shareholder returns amidst a volatile market environment. In addition to common stock dividends, Capital One also approved preferred stock dividends across several series, totaling approximately $90 million. The total anticipated dividend payout for the second quarter of 2020, including both common and preferred stock dividends, is around $274 million ($184 million for common and $90 million for preferred). The company's ability to pay common stock dividends is contingent upon the fulfillment of preferred stock dividend obligations, a standard provision for such securities.
Key Highlights
- 1Capital One declared a quarterly common stock dividend of $0.40 per share.
- 2The common stock dividend is payable on May 21, 2020, to stockholders of record on May 11, 2020.
- 3Quarterly dividends were also approved for multiple series of preferred stock.
- 4Preferred stock dividends are payable on June 1, 2020, to stockholders of record on May 15, 2020.
- 5The company expects to pay approximately $184 million in common stock dividends and $90 million in preferred stock dividends in Q2 2020.
- 6The ability to pay common stock dividends is subject to restrictions related to preferred stock dividend payments.