Capital One's CCAR Capital Plan Receives No Objection from the Federal Reserve
Capital One's CCAR Capital Plan Receives No Objection from the Federal Reserve |
[28-June-2018] |
MCLEAN, Va., June 28, 2018 /PRNewswire/ -- Capital One Financial Corporation (NYSE: COF) today announced that the Federal Reserve has completed its 2018 Comprehensive Capital Analysis and Review ("CCAR") and did not object to Capital One's proposed capital plan submitted on April 5, 2018.
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 $1.2 billion of shares of the company's common stock beginning in the third quarter of 2018 through the end of the second quarter of 2019. The timing and exact amount of any 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. The Company'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 About Capital One
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Company Codes: NYSE:COF |
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