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American Express Company Buyback

OLI recorded this information on 6/28/2017

Company: American Express Company
Buyback: AXP buyback
$Amount Authorized: $4,400,000,000
Buyback Details: 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 issues consumer cards and provides 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 financing solutions; and Global Merchant and Network Services, which operates a global payments network that processes and settles card transactions, acquires merchants and provides multi-channel marketing programs and capabilities, services and data analytics.

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Company Name: 
American Express Co.
Stock buyback: 
AXP buyback
Credit Services & Lending
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% of Market Cap. Held by ETFs: 

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Buy (2.87 out of 4)
13rd percentile
(ranked lower than approx. 87% of all stocks covered)

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