Key Developments: American Express Co (AXP)
75.27USD
24 May 2013
$0.58 (+0.78%)
$74.69
$74.09
$75.35
$73.98
5,564,003
5,372,838
$77.01
$53.02
Latest Key Developments (Source: Significant Developments)
American Express Co Announces 15% Dividend Increase
American Express Co announced that its Board of Directors approved a $0.03 or 15% increase in the quarterly dividend on the company’s common stock. The dividend was raised to $0.23 per common share, from $0.20, payable on August 9, 2013 to shareholders of record on July 5, 2013. Full Article
American Express Co Announces Appointment Of President-Form 8-K
American Express Co reported in its Form 8-K that on April 15, 2013, American Express Company (Company) announced the appointment of Edward P. Gilligan, as President of the Company, effective immediately. Prior to his appointment as President, Mr. Gilligan served as Vice Chairman of the Company since July 2007. Full Article
American Express Co Authorizes Repurchase Of Up To 150 Million Shares; Declares Regular Quarterly Dividend
American Express Co 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. Full Article
American Express Co Plans to Increase Quarterly Dividend by 15%; Buy Back up to $4.0 Billion of Common Shares in 2013
American Express Co announced that the Board of Governors of the Federal Reserve System did not object to its 2013 capital plan to increase the Company`s quarterly dividend to 23 cents per share, to repurchase up to $3.2 billion of common shares during the last three quarters of 2013 and to repurchase up to an additional $1.0 billion in the first quarter of 2014. The Company also said 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 dividend increase would amount to 3 cents per share, or 15%. The share repurchases in 2013 would be in line with the amounts that were actually repurchased last year under the 2012 capital plan. Full Article
American Express Co Partners with Luxury Vacation Provider Inspirato LLC
American Express Co and luxury vacation club Inspirato LLC announced a partnership to deliver the club`s unique vacation experiences under the new brand Inspirato with American Express, available to all consumers with special benefits to American Express Cardmembers. The new partnership is designed to accelerate Inspirato`s growth and raise awareness with relevant consumers. Full Article
American Express Co To Cut 5,400 Jobs-Reuters
Reuters reported that American Express Co said it would cut about 5,400 jobs, or 8.5% of its workforce, as it restructures its business and pay legal bills. American Express tends to cut staff at the beginning of recessions. The company said the job cuts will happen over the year and come even as it hires some new employees and invests in more online customer service. The current workforce of 63,500 people will be about 4% to 6% smaller by the end of 2013. Full Article
American Express Co Announces Pricing Terms Of Note Exchange Offers
American Express Co announced the pricing terms of its previously announced private offers to exchange (i) any and all of its outstanding 8.125% Senior Notes due 2019 for its new Senior Notes due December 2, 2022 and cash and (ii) any and all of its outstanding 8.150% Senior Notes due 2038 for its new Senior Notes due December 3, 2042 and cash. The pricing terms were determined as of the price determination date, on November 27, 2012, in accordance with the terms set out in the confidential offering circular for the exchange offers, dated November 13, 2012, and the related letter of transmittal. The interest rate on the new 2022 notes will be 2.650%. The "New 2022 Issue Yield" (as defined in the confidential offering circular) on the new 2022 notes will be 2.697% and the "New 2022 Notes Value" (as defined in the confidential offering circular) of the new 2022 notes will be $1,145.29. These amounts were determined by reference to the bid-side yield on the 1.625% U.S. Treasury due November 15, 2022 as of the price determination date, which was 1.647%. The interest rate on the new 2042 notes will be 4.050%. The "New 2042 Issue Yield" on the new 2042 notes will be 4.086% and the "New 2042 Notes Value (as defined in the confidential offering circular) of the new 2042 notes will be $1,341.64. These amounts were determined by reference to the bid-side yield on the 2.75% U.S. Treasury due August 15, 2042 as of the price determination date, which was 2.786%. Full Article
American Express Co Declares Regular Quarterly Dividend
American Express Co announced that quarterly dividend of $0.20 per common share, payable on February 8, 2013 to shareholders of record on January 4, 2013. Full Article
American Express Co Declares Regular Quarterly Dividend
American Express Co announced that it has declared a regular quarterly dividend of $0.20 per common share, payable on November 9, 2012 to shareholders of record on October 5, 2012. Full Article
American Express Company Declares Regular Quarterly Dividend
American Express Company announced that it has declared a regular quarterly dividend of $0.20 per common share, payable on August 10, 2012 to shareholders of record on July 6, 2012. Full Article
American Express CFO Daniel Henry to retire
- American Express Co said Chief Financial Officer Daniel Henry will retire as soon as a replacement is found, a process that could take "a couple of months."
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