Business Context and Reporting Period
This Form 8-K Current Report was filed by Capital One Financial Corporation on July 26, 2018. The filing reports the declaration of quarterly dividends by the Board of Directors for both common and various series of preferred stock.
Key Financial Metrics
The filing details specific dividend declarations and estimated payout amounts for the third quarter of 2018:
- Common Stock Dividend: $0.40 per share.
- Preferred Stock Dividends: Declared for Series B (6.00%), Series C (6.25%), Series D (6.70%), Series F (6.20%), Series G (5.20%), and Series H (6.00%).
- Total Estimated Common Dividend Payout: Approximately $193 million.
- Total Estimated Preferred Dividend Payout: Approximately $52 million.
The filing does not provide data on revenue, profit, cash flow, margins, debt, or liquidity metrics.
Material Changes
This report does not contain comparative financial data or material changes versus prior periods. It serves solely to announce the current quarter's dividend declarations.
Guidance, Outlook, and Restrictions
Payment Schedule:
- Common Stock: Payable on August 16, 2018, to stockholders of record as of August 6, 2018.
- Preferred Stock: Payable on September 1, 2018, to stockholders of record as of August 17, 2018.
Dividend Restrictions: The Company's ability to pay common dividends or repurchase common stock is subject to restrictions if the Company fails to declare and pay (or set aside) sufficient funds for preferred stock dividends for the immediately preceding dividend period.
Investor Verification Checklist
- Verify the record date of August 6, 2018, for common stock eligibility.
- Confirm the record date of August 17, 2018, for preferred stock eligibility.
- Review the Company's ability to meet the preferred dividend payment requirement to ensure no restrictions are triggered for future common stock actions.
- Check the total cash outflow impact of approximately $245 million ($193 million + $52 million) for Q3 2018.