Summary
Capital One Financial Corporation (COF) has filed an 8-K report on January 30, 2023, detailing board declarations made on January 26, 2023. The primary announcement for investors concerns the declaration of a quarterly common stock dividend of $0.60 per share. This dividend, expected to result in approximately $235 million in payments, is scheduled to be paid on February 17, 2023, to shareholders of record as of February 6, 2023. This demonstrates the company's ongoing commitment to returning capital to its common stockholders. The report also outlines the declaration of quarterly dividends for various series of preferred stock, totaling approximately $57 million for the first quarter of 2023. These preferred stock dividends are payable on March 1, 2023, to shareholders of record as of February 14, 2023. Importantly, the filing notes that restrictions on common stock dividends and repurchases exist if preferred stock dividends are not paid or adequately set aside, highlighting the priority of preferred shareholder payments.
Key Highlights
- 1Capital One declared a quarterly common stock dividend of $0.60 per share.
- 2The common stock dividend payment is expected to be approximately $235 million.
- 3The common stock dividend is payable on February 17, 2023, to shareholders of record on February 6, 2023.
- 4Quarterly dividends were also declared for multiple series of preferred stock.
- 5Total preferred stock dividends for Q1 2023 are estimated to be around $57 million.
- 6Preferred stock dividends are payable on March 1, 2023, to shareholders of record on February 14, 2023.
- 7The company's ability to pay common stock dividends or repurchase shares is subject to restrictions if preferred stock dividends are not met.