MCLEAN, Va., March 26, 2014 /PRNewswire/ -- Capital One Financial Corporation (NYSE: COF) today announced that the Federal Reserve has completed its 2014 Comprehensive Capital Analysis and Review ("CCAR") and did not object to Capital One's proposed capital plan submitted on January 6, 2014. The company expects to maintain its quarterly dividend of $0.30 per share, subject to approval by its Board of Directors. In addition, the company's Board of Directors has authorized the repurchase of up to $2.5 billion of shares of the company's common stock through the end of the first quarter of 2015.
The timing and exact amount of any Capital One common stock repurchases will depend on various factors, including market conditions, Capital One's capital position and amount of retained earnings. Capital One's share repurchase program does not include specific price targets, may be executed through open market purchases or privately negotiated transactions, including utilizing Rule 10b5-1 programs, and may be suspended at any time.
Forward Looking Statements
Certain statements in this release are forward-looking statements, which involve a number of risks and uncertainties. Capital One cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information due to a number of factors, including those listed from time to time in reports that Capital One files with the Securities and Exchange Commission, including, but not limited to, the Annual Report on Form 10-K for the year ended December 31, 2013.
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