Summary
Capital One Financial Corporation (COF) announced on July 29, 2021, its intention to redeem all outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E. This action signals a strategic financial management decision by the company, potentially to optimize its capital structure or reduce future interest expenses. Investors holding Series E Preferred Stock should note that all 1,000,000 outstanding shares will be redeemed on September 1, 2021, at a price of $1,000 per share. A final dividend payment will be made on the redemption date to shareholders of record as of August 16, 2021. This redemption is a significant event for preferred stockholders, marking the end of their investment in this specific series of preferred stock.
Key Highlights
- 1Capital One (COF) will redeem all outstanding Series E Preferred Stock.
- 2The redemption date is set for September 1, 2021.
- 3The redemption price is $1,000 per share.
- 4All 1,000,000 shares of Series E Preferred Stock will be redeemed.
- 5A final dividend payment will be made on September 1, 2021, to shareholders of record as of August 16, 2021.
- 6Dividends will cease to accrue on the Series E Preferred Stock after the redemption date.