Capital One to Seek Dividend Raise in 2013, CFO Says

Capital One Financial Corp. (COF) will look to “meaningfully” increase its dividend next year and may examine other ways of returning capital to shareholders, Chief Financial Officer Gary Perlin said.

Starting in 2013, the bank will be “looking to really deliver on this intention to increase our dividend meaningfully and look at other ways of returning capital,” Perlin said today at an investor conference in New York. He said the company may consider repurchasing shares.

Capital One’s current quarterly dividend is 5 cents. The lender expects to have a Tier 1 common ratio of roughly 9.5 percent and will make its case to regulators that it has enough capital to return some to shareholders, Perlin said.

To contact the reporter on this story: Dakin Campbell in San Francisco at dcampbell27@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net.