Capital One's CCAR Capital Plan Gets No Objection From Federal Reserve

(RTTNews) - Capital One Financial Corp. (COF) announced that the Federal Reserve has completed its 2015 Comprehensive Capital Analysis and Review or "CCAR" and did not object to Capital One's proposed capital plan submitted on January 5, 2015.

Capital One's submission included a planned increase in the quarterly dividend on its common stock from the current level of $0.30 per share to $0.40 per share.

Consistent with the capital plan, Capital One expects to declare a quarterly dividend of $0.40 per share for the first quarter of 2015, subject to final approval of the Board of Directors at its scheduled meeting in April.

In addition, the company's Board of Directors has authorized the repurchase of up to $3.125 billion of shares of the company's common stock beginning in the second quarter of 2015 through the end of the second quarter of 2016.