Dow Component American Express (AXP) To Go Ex-dividend Tomorrow

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

The Dow Jones Industrial Average ( ^DJI) is trading up 60 points (+0.4%) at 15,189 as of Tuesday, Oct 1, 2013, 10:30 a.m. ET. During this time, 83.3 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 364.4 million. The NYSE advances/declines ratio sits at 2,045 issues advancing vs. 804 declining with 120 unchanged.
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Wednesday, October 2, 2013 is the ex-dividend date for Dow component American Express (NYSE: AXP). Owners of shares as of market close today will be eligible for a dividend of 23 cents per share. At a price of $75.78 as of 10:30 a.m. ET, the dividend yield is 1.2% compared to the average Dow component yield of 2.6%.

The average volume for American Express has been 4.3 million shares per day over the past 30 days. American Express has a market cap of $82.07 billion and is part of the financial sector and financial services industry. Shares are up 32.3% year to date as of Monday's close.

American Express Company provides charge and credit payment card products and travel-related services to customers worldwide. The company has a P/E ratio of 18.6, equal to the average financial services industry P/E ratio.
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TheStreet Ratings rates American Express as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, growth in earnings per share, increase in net income and notable return on equity. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

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