American Express Company Buyback
OLI recorded this information on 6/28/2017
American Express Company
American Express Company (NYSE:AXP) said today that the Board of Governors of the Federal Reserve System did not object to its adjusted capital plan submitted as part of the 2017 Comprehensive Capital Analysis and Review (CCAR). The plan included: Increasing the Company's quarterly dividend to 35 cents per share beginning with the third quarter 2017 dividend declaration, subject to approval by the Company's board of directors; Repurchasing up to $4.4 billion of common shares during the CCAR approval period of Q3'17 to Q2'18. This compares to an authorization of $3.3 billion for the same period twelve months earlier. This new authorization enables the Company to repurchase up to $4.3 billion of common shares in calendar year 2017, and up to an additional $1.7 billion in the first half of 2018.
American Express is a payments company. Co. provides credit and charge cards to consumers, small businesses, mid-sized companies and corporations. Co.'s segments are: Global Consumer Services Group, which provides services to consumers, including travel and lifestyle services and non-card financing products; Global Commercial Services, which issues corporate and small business cards and provides payment, expense management, and commercial financing products; and Global Merchant and Network Services, which operates a global payments network that processes and settles card transactions, acquires merchants and provides marketing programs and capabilities, services and data analytics.
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Buy (2.65 out of 4)