Summary
Capital One Financial Corporation (COF) announced a quarterly common stock dividend of $0.60 per share, payable on May 26, 2023, to shareholders of record as of May 15, 2023. This declaration is expected to result in approximately $233 million in common stock cash dividends for the second quarter of 2023, subject to the exact number of outstanding shares on the record date. The company also declared quarterly dividends on various series of its perpetual preferred stock, totaling approximately $57 million for the second quarter, payable on June 1, 2023. These dividend declarations are routine and reflect the company's ongoing capital return strategy to its shareholders. Investors should note that the payment of common stock dividends is subject to the company's ability to pay preferred stock dividends, a standard provision in preferred stock agreements.
Key Highlights
- 1COF declared a quarterly common stock dividend of $0.60 per share.
- 2The common stock dividend is payable on May 26, 2023.
- 3Stockholders of record on May 15, 2023, will receive the common stock dividend.
- 4Approximately $233 million is expected to be paid in common stock dividends for Q2 2023.
- 5Quarterly dividends were also declared on multiple series of preferred stock.
- 6Approximately $57 million is expected to be paid in preferred stock dividends for Q2 2023.
- 7Preferred stock dividend payments have priority over common stock dividend payments.