Summary
Capital One Financial Corporation (COF) announced on May 5, 2021, through its Board of Directors, the declaration of its quarterly common stock dividend. The dividend is set at $0.40 per share, payable on May 28, 2021, to shareholders of record as of May 17, 2021. This action signals continued confidence in the company's financial stability and its commitment to returning value to shareholders. In addition to common stock dividends, the company also approved quarterly dividends for various series of its perpetual preferred stock. The total cash outflow for dividends in the second quarter of 2021 is estimated to be approximately $181 million for common stock and $61 million for preferred stock. It is important for investors to note that the company's ability to pay dividends on common stock is contingent upon the declaration and payment of preferred stock dividends, as per the terms of its outstanding preferred stock.
Key Highlights
- 1Capital One declared a quarterly common stock dividend of $0.40 per share.
- 2The common stock dividend is payable on May 28, 2021, to shareholders of record on May 17, 2021.
- 3The company will pay approximately $181 million in common stock dividends in Q2 2021.
- 4Quarterly dividends were also approved for multiple series of preferred stock.
- 5Approximately $61 million in preferred stock dividends will be paid in Q2 2021.
- 6Preferred stock dividend payment is a condition for paying common stock dividends, repurchases, or redemptions.