Summary
Capital One Financial Corporation (COF) has announced its intention to redeem all outstanding shares of its Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series M, on September 1, 2026. This action involves the redemption of 1,000,000 shares at a price of $1,000 per share, totaling a redemption value of $1 billion. This move suggests a strategic financial decision by Capital One, potentially to reduce borrowing costs, simplify its capital structure, or refinance at more favorable terms. Investors holding Series M Preferred Stock should note that their investment will be repaid on the specified date, and dividend accrual will cease thereafter. Regular dividends will be paid up to the redemption date to shareholders of record as of August 17, 2026.
Key Highlights
- 1Capital One Financial Corporation (COF) is redeeming all outstanding Series M Preferred Stock.
- 2The redemption date is set for September 1, 2026.
- 3The redemption price is $1,000 per share.
- 4A total of 1,000,000 shares of Series M Preferred Stock will be redeemed.
- 5The aggregate redemption value for the Series M Preferred Stock is $1 billion.
- 6Regular dividends will be paid through the redemption date for shareholders of record on August 17, 2026.
- 7Dividend accrual on Series M Preferred Stock will cease on and after September 1, 2026.