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
Certain statements
in this release may constitute 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,
2017.
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 $250.8 billion in deposits and $362.9
billion in total assets as of March 31, 2018.
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, Louisiana, Texas, Maryland, Virginia, New
Jersey 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.
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SOURCE Capital One Financial Corporation