UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
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(Exact name of registrant as specified in its charter)
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 | Other Events. |
On April 29, 2020, the Board of Directors of Capital One Financial Corporation (the “Company”) declared a quarterly common stock dividend of $0.40 per share. The dividend is payable on May 21, 2020 to stockholders of record at the close of business on May 11, 2020.
The Board of Directors also approved quarterly dividends on the Company’s 6.20% fixed rate non-cumulative perpetual preferred stock, Series F, the Company’s 5.20% fixed rate non-cumulative perpetual preferred stock, Series G, the Company’s 6.00% fixed rate non-cumulative perpetual preferred stock, Series H, the Company’s 5.00% fixed rate non-cumulative perpetual preferred stock, Series I, the Company’s 4.80% fixed rate non-cumulative perpetual preferred stock, Series J, as well as semi-annual dividends on the Company’s fixed-to-floating rate non-cumulative perpetual preferred stock, Series E. These dividends are payable on June 1, 2020 to stockholders of record at the close of business on May 15, 2020.
Based on these declarations, the Company will pay approximately $184 million in common stock dividends and approximately $90 million in total preferred stock dividends in the second quarter of 2020. Under the terms of the Company’s outstanding preferred stock, the Company’s ability to pay dividends on, make distributions with respect to, or to repurchase, redeem or acquire its common stock or any preferred stock ranking on parity with or junior to the preferred stock, is subject to restrictions in the event that the Company does not declare and either pay or set aside a sum sufficient for payment of dividends on the preferred stock for the immediately preceding dividend period.
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
Exhibit No. | Description | |
104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL | |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
CAPITAL ONE FINANCIAL CORPORATION | ||||
Date: May 1, 2020 | By: | /s/ TIMOTHY P. GOLDEN | ||
Timothy P. Golden | ||||
Controller and Principal Accounting Officer | ||||
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