American Express To Boost Dividend, Repurchase Up To $4.4 Bln Of Shares In 2014

(RTTNews) - American Express Co. (AXP) said Wednesday that the Board of Governors of the Federal Reserve System did not object to its capital plan submitted on January 6 as part of the 2014 Comprehensive Capital Analysis and Review.

The plan called for increasing the company's quarterly dividend to 26 cents per share beginning with the second quarter 2014 dividend declaration; repurchasing up to $4.4 billion of common shares during 2014 and up to an additional $1.0 billion in the first quarter of 2015.

Repurchase of common shares will be pursuant to the share repurchase program previously authorized by the company's board of directors on March 25, 2013.