Capital One Financial Corporation (NYSE: COF) reports news as a technology-based financial services company with credit card, consumer banking, global payments and commercial banking operations. Company updates commonly cover quarterly earnings, net revenue, credit performance, charge-off and delinquency trends, deposit and asset levels, and the integration of its payments network and banking businesses.
Recurring announcements also include common and preferred stock dividends, earnings-call schedules, and product developments from Capital One Software, including Databolt data-security capabilities for enterprises using cloud, analytics and AI-related data environments.
On Nov. 17, 2021, Envestnet | Yodlee and Capital One announced a data access agreement enhancing customer usability. This partnership allows Capital One customers to securely share financial data with over 1,500 third-party applications using a new API that eliminates the need for banking credentials. Envestnet | Yodlee reported a 30% increase in account linking success due to this innovation, which aims to empower consumers with better control and access to their financial information.
Capital One (NYSE: COF) has unveiled the Venture X, a premium travel card designed to provide enhanced earning opportunities. Cardholders can earn 2X miles on all purchases, along with 10X on hotels and rental cars, and 5X on flights booked via Capital One Travel. The card features a competitive $395 annual fee, delivers 100,000 bonus miles after spending $10,000 within the first six months, and includes $300 in annual travel credits. Additional perks include unlimited access to Capital One lounges and valuable redemption options, aiming to enhance the travel experience for customers.
Capital One Financial Corporation (NYSE: COF) has appointed Christine Detrick to its Board of Directors, effective pending shareholder election in May 2022. Detrick, a financial services veteran with over 35 years of experience, will also serve on the Audit and Risk Committees. Her previous roles include leadership positions at Bain & Company and A.T. Kearney, showcasing expertise in banking and insurance. CEO Richard D. Fairbank praised her strategic mindset and governance skills, which are expected to enhance Capital One's focus on reimagining banking.
Capital One Financial Corporation (NYSE: COF) announced a quarterly dividend of $0.60 per share, payable on November 26, 2021, to stockholders of record as of November 15, 2021. The company has consistently declared dividends since its separation in 1995. Additionally, dividends on various preferred stocks were also declared, including $13.00 for Series G, $15.00 for Series H, $12.50 for Series I, $12.00 for Series J, and more, all payable on December 1, 2021. These dividends demonstrate Capital One's ongoing financial health.
Capital One Financial Corporation (NYSE: COF) reported a net income of $3.1 billion or $6.78 per diluted share for Q3 2021, down from $3.5 billion in Q2 2021. This is an increase from $2.4 billion in Q3 2020. Total net revenue grew 6% to $7.8 billion, while non-interest expenses also rose 6% to $4.2 billion. Credit losses reflected a benefit of $342 million. The company reported a Common equity Tier 1 capital ratio of 13.8% at the end of September 2021. A conference call is scheduled for October 26, 2021.
Capital One Financial Corporation (NYSE: COF) announced plans to redeem all outstanding shares of its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series G and Series H, on December 1, 2021. About 24 million Series G Depositary Shares and 20 million Series H Depositary Shares will be redeemed at a price of $25 per share, totaling $1,000 per preferred share. Dividends on these shares will cease after the redemption date. The company emphasizes that the redemption will not include any accrued dividends.
Capital One Financial Corporation (NYSE: COF) will disclose its third quarter 2021 earnings results on October 26, 2021, at 4:05 p.m. Eastern Time. A conference call to discuss these results will follow at 5:00 p.m. Eastern Time. The earnings release will be accessible on the company's website, and a replay of the call will be available starting two hours post-call until November 9, 2021.
As of June 30, 2021, Capital One reported $306.3 billion in deposits and $423.4 billion in total assets.
On August 17, 2021, Capital One introduced the SavorOne Rewards for Students and Quicksilver Rewards for Students credit cards, tailored for students beginning their credit journey. The SavorOne card offers unlimited 3% cash back on dining, entertainment, popular streaming services, and grocery purchases, along with 1% on all other spending. The Quicksilver card provides 1.5% cash back on every purchase. Both cards feature no annual fees, no cash back limits, and no expiration on rewards, enhancing accessibility and choice for student consumers.
Capital One Financial Corporation (NYSE: COF) has announced the full redemption of its one million outstanding shares of Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E. The shares will be redeemed at a price of $1,000 each on September 1, 2021, with regular dividends of $10.05516556 per share to be paid to holders of record by August 16, 2021. The redemption will be executed by Computershare Trust Company, N.A., and dividends will cease to accrue after the redemption date. The move reflects Capital One's ongoing financial strategies and management of its capital structure.
Capital One Financial Corporation (NYSE: COF) announced a one-time special dividend of $0.60 and a quarterly dividend of $0.60 per share, payable on August 20, 2021, to stockholders of record as of August 9, 2021. The company has paid dividends quarterly since becoming independent in February 1995. Additional quarterly dividends were declared for its preferred stocks, including Series E, G, H, I, J, K, L, and M, all payable on September 1, 2021, with respective amounts ranging from $8.8875 to $15.00 per share.