Capital One's CCAR Capital Plan Receives No Objection from the Federal Reserve

Loading...
Loading...

Capital One expects to repurchase $2.5 billion of shares of common stock through the end of the second quarter of 2017; expects to maintain current quarterly dividend of $0.40 per share

MCLEAN, Va., June 29, 2016 /PRNewswire/ -- Capital One Financial Corporation COF today announced that the Federal Reserve has completed its 2016 Comprehensive Capital Analysis and Review ("CCAR") and did not object to Capital One's proposed capital plan.  The company expects to maintain its quarterly dividend of $0.40 per share, subject to approval by its Board of Directors.  In addition, the company's Board of Directors has authorized the repurchase of up to $2.5 billion of shares of the company's common stock beginning in the third quarter of 2016 through the end of the second quarter of 2017.

The timing and exact amount of any Capital One common stock repurchases will depend on various factors, including market conditions, opportunities for growth, and the company's capital position and amount of retained earnings. Capital One's share repurchase program does not include specific price targets, may be executed through open market purchases or privately negotiated transactions, including utilizing Rule 10b5-1 programs, and may be suspended at any time.

Forward Looking Statements

Certain statements in this release are forward-looking statements, which involve a number of risks and uncertainties. Capital One cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information due to a number of factors, including those listed from time to time in reports that Capital One files with the Securities and Exchange Commission, including, but not limited to, the Annual Report on Form 10-K for the year ended December 31, 2015.

About Capital One

Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $221.8 billion in deposits and $330.3 billion in total assets as of March 31, 2016. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has branches located primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.

Logo - http://photos.prnewswire.com/prnh/20141030/155590LOGO

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/capital-ones-ccar-capital-plan-receives-no-objection-from-the-federal-reserve-300292286.html

SOURCE Capital One Financial Corporation

Loading...
Loading...
Posted In: Press Releases
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!

Loading...