CAPITAL ONE FINANCIAL CORPORATION (NYSE:COF) Files An 8-K Other Events
Item 8.01
CAPITAL ONE FINANCIAL CORPORATION (NYSE:COF) Files An 8-K Other Events
On June 27, 2019, Capital One Financial Corporation (the “Company”) issued a press release announcing that the Board of Governors of the Federal Reserve had completed its review under the Comprehensive Capital Analysis and Review (“CCAR”) process and that it did not object to the Company’s proposed adjusted capital plan submitted to CCAR. 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 $2.2 billion of shares of the Company’s common stock beginning in the third quarter of 2019 through the end of the second quarter of 2020. A copy of the Company’s press release is attached as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.
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.
As required under the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Company has also published on June 21, 2019 a summary of the results of the Company-run stress tests performed under the Federal Reserve’s severely adverse scenario. These disclosures do not reflect the capital plan described above, but reflect certain assumptions and capital actions as required under the Federal Reserve’s rules.
Item 9.01 Financial Statements and Exhibits.
Cautionary Statements Regarding Forward-Looking Statements.
The attached press release and information provided to Items 8.01 and 9.01 contain forward-looking statements, which involve a number of risks and uncertainties. The Company 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 the Company 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, 2018.
CAPITAL ONE FINANCIAL CORP Exhibit
EX-99.1 2 a2019ccarexhibit991.htm EXHIBIT 99.1 Exhibit Exhibit 99.1For Immediate Release: June 27,…
To view the full exhibit click
EX-99.1 2 a2019ccarexhibit991.htm EXHIBIT 99.1 Exhibit Exhibit 99.1For Immediate Release: June 27,…
To view the full exhibit click
hereAbout CAPITAL ONE FINANCIAL CORPORATION (NYSE:COF)
Capital One Financial Corporation is a financial services holding company. The Company offers a range of financial products and services to consumers, small businesses and commercial clients through branches, the Internet and other distribution channels. The Company’s segments include Credit Card, which consists of its domestic consumer and small business card lending, and the international card lending businesses in Canada and the United Kingdom; Consumer Banking, which consists of its branch-based lending and deposit gathering activities for consumers and small businesses, national deposit gathering, national auto lending and consumer home loan lending and servicing activities; Commercial Banking, which consists of its lending, deposit gathering and treasury management services to commercial real estate, and commercial and industrial customers, and Other, which includes management of its corporate investment portfolio and asset/liability management.
