E*TRADE Financial Corporation ETFC today announced that its
subsidiary, E*TRADE Bank, has received regulatory approval to dividend capital
to the Company's Parent. The capital distribution will take place during
September, in the amount of $100 million. The Company intends to seek approval
for similar distributions of $100 million per quarter, over the near term.
“Today's announcement reflects E*TRADE's significant progress on our capital
plan, including de-risking and deleveraging the balance sheet, bolstering our
enterprise risk management capabilities, and strengthening the Company's
overall financial position,” said Matthew Audette, Chief Financial Officer.
“While subsequent dividends will be subject to regulatory approvals, we look
forward to building on this initial distribution over the coming quarters.”
The Company will provide updates on usage of capital distributions as
appropriate, through its regularly scheduled earnings calls and presentations
to the investment community.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In: News
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in