American Express Plans To Boost Quarterly Dividend 12%

(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 5 as part of the 2015 Comprehensive Capital Analysis and Review.

The company's capital plan included an increase in the company's quarterly dividend to $0.29 per share beginning with the second quarter 2015 dividend declaration, and a repurchase of up to $6.6 billion of common shares during the period beginning in the second quarter of 2015 through and including the second quarter of 2016.

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.