Summary
Capital One Financial Corporation (COF) announced its quarterly dividend declarations on February 4, 2021. The Board of Directors approved a common stock dividend of $0.40 per share, payable on March 1, 2021, to shareholders of record as of February 17, 2021. This translates to an approximate total payout of $185 million for common stock dividends in the first quarter of 2021. In addition to common stock dividends, the Company also declared dividends on its various series of perpetual preferred stock. These preferred stock dividends, totaling approximately $61 million for the first quarter, are also payable on March 1, 2021, to shareholders of record on February 16, 2021. The filing emphasizes that the payment of preferred stock dividends is a prerequisite for any common stock dividends, share repurchases, or redemptions, highlighting the priority of preferred shareholders.
Key Highlights
- 1Capital One declared a quarterly common stock dividend of $0.40 per share.
- 2The common stock dividend is payable on March 1, 2021, to shareholders of record on February 17, 2021.
- 3Total estimated common stock dividend payout for Q1 2021 is approximately $185 million.
- 4Quarterly dividends were also approved for multiple series of perpetual preferred stock.
- 5Total estimated preferred stock dividend payout for Q1 2021 is approximately $61 million.
- 6Preferred stock dividends are payable on March 1, 2021, to shareholders of record on February 16, 2021.
- 7The company's ability to pay common stock dividends or repurchase shares is contingent upon the declaration and payment of preferred stock dividends.