American Express Board Raises Dividend; Authorizes New Share Repurchase

(RTTNews) - The board of American Express Company (AXP) approved the repurchase of up to 150 million common shares, from time to time, subject to market conditions and the Federal Reserve's non-objection of the company's capital plans. The authorization replaces the prior 150 million share repurchase program that had approximately 45 million shares of common stock remaining under board authorization.

The board of American Express also approved a 12 percent increase in its quarterly dividend on the common stock. The dividend was raised to $0.29 per common share, from $0.26, payable on August 10, 2015 to shareholders of record on July 2, 2015.