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The board of directors of American Express Company (NYSE: AXP) today approved the repurchase of up to 150 million common shares, from time to time, in accordance with the company’s capital distribution plans submitted to the Federal Reserve and subject to market conditions. This authorization replaces the prior 150 million share repurchase program that had approximately 70 million shares of common stock remaining under board authorization.
Separately, the board of directors declared a regular quarterly dividend of $0.20 per common share, payable on May 10, 2013 to shareholders of record on April 5, 2013.