American Express Board Authorizes Repurchase of Up to 150 Million Shares,
Declares Regular Quarterly Dividend
NEW YORK -- March 25, 2013
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.
As previously announced on March 14, 2013, the company was informed that the
Federal Reserve did not object to the company’s 2013 capital plan to
repurchase up to $3.2 billion of common shares during the last three quarters
of 2013 and up to an additional $1 billion in the first quarter of 2014, as
well as to increase the company’s quarterly dividend to $0.23 per share
beginning with the second quarter 2013 dividend declaration. The company also
previously announced that it expects to repurchase approximately $800 million
of common shares during the first quarter of 2013 under the company’s 2012
capital plan. The actual number of shares that will be repurchased will be
based on the company’s business plans, financial performance and market
About American Express
American Express is a global services company, providing customers with access
to products, insights and experiences that enrich lives and build business
success.Learn more at americanexpress.com and connect with us on
linkedin.com/companies/american-express, twitter.com/americanexpress, and
Key links to products and services: charge and credit cards, business credit
cards, travel services, gift cards, prepaid cards, merchant services, business
travel, and corporate card.
Marina Norville, 212-640-2832
Press spacebar to pause and continue. Press esc to stop.