MCLEAN, Va., June 29, 2016 /PRNewswire/ -- Capital
One Financial Corporation (NYSE: 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.
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SOURCE Capital One Financial Corporation