Summary
Capital One Financial Corporation (COF) announced on July 27, 2022, that its Board of Directors declared a quarterly common stock dividend of $0.60 per share, payable on August 19, 2022. This declaration is expected to result in approximately $232 million in common stock cash dividends paid during the third quarter of 2022, subject to the number of outstanding shares on August 8, 2022. In addition to common stock dividends, the Board also declared quarterly dividends on various series of its perpetual preferred stock. These preferred stock dividends, totaling approximately $57 million for the third quarter, are payable on September 1, 2022. The report also reminds investors that the company's ability to pay common stock dividends is contingent upon satisfying preferred stock dividend obligations, as per the terms of the preferred stock agreements.
Key Highlights
- 1Capital One declared a common stock dividend of $0.60 per share.
- 2The common stock dividend is payable on August 19, 2022, to shareholders of record on August 8, 2022.
- 3Approximately $232 million is expected to be paid in common stock dividends for the third quarter of 2022.
- 4Quarterly dividends were also declared on multiple series of perpetual preferred stock.
- 5Total preferred stock dividends for the third quarter are estimated at $57 million.
- 6Preferred stock dividends are payable on September 1, 2022.
- 7The declaration emphasizes the subordination of common stock dividend payments to preferred stock dividend payments.