Summary
Capital One Financial Corporation (COF) announced on July 31, 2020, that its Board of Directors declared a quarterly common stock dividend of $0.10 per share, payable on August 20, 2020, to shareholders of record on August 10, 2020. The company also approved its regular quarterly preferred stock dividends for various series, payable on September 1, 2020, to shareholders of record on August 17, 2020. These declarations indicate that Capital One expects to pay approximately $46 million in common stock dividends and approximately $67 million in total preferred stock dividends for the third quarter of 2020. The filing also reminds investors of the terms associated with preferred stock dividends, which can restrict the payment of common stock dividends or repurchases if preferred dividends are not declared and funded.
Key Highlights
- 1Capital One declared a quarterly common stock dividend of $0.10 per share.
- 2The common stock dividend is payable on August 20, 2020.
- 3Stockholders of record for the common dividend must be established by August 10, 2020.
- 4Regular quarterly dividends were also approved for multiple series of preferred stock.
- 5Preferred stock dividends are payable on September 1, 2020.
- 6The company anticipates paying approximately $46 million in common stock dividends and $67 million in total preferred stock dividends for Q3 2020.
- 7Payment of common stock dividends or repurchases may be restricted if preferred stock dividend obligations are not met.