American Express Looks to Increase Quarterly Dividend & Repurchase Shares
Dow 30 component American Express Company (AXP), and its subsidiaries provide customers and businesses globally with charge and credit payment card products and travel-related services. They look to enrich the lives of their customers and build business success.
With approval from the Board of Governors of the Federal Reserve System, American Express Company will increase its quarterly dividend to $0.39/share starting with the Q3 2018 dividend declaration upon approval of the company’s board of directors. American Express will also be repurchasing up to $3.4 billion of common shares between the period quarter three 2018 until quarter two 2019. This will allow the company to repurchase up to $1.6 billion of common shares in 2018 and $1.9 billion shares during the first part of 2019.
These changes are an adjustment to American Express Company’s 2018 Comprehensive Capital Analysis and Review which supports the company’s objectives to restore capital to target levels while also aiding in asset growth and distributing capital to shareholders.
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