American Express (NYSE: AXP) posts 2026 stress test and $8.7B capital returns
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
American Express Company reported the results of its company-run 2026 Dodd-Frank Act Stress Test and confirmed it will continue to operate with a Stress Capital Buffer of 2.5 percent, the minimum level, through September 30, 2027.
The company highlighted its capital return strategy, noting a previously announced 16 percent increase in its quarterly common dividend to $0.95 per share starting with the first-quarter 2026 declaration, and that it returned $8.7 billion to shareholders via buybacks and dividends over the 12 months ended March 31, 2026.
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8-K Event Classification
Item 7.01 — Regulation FD Disclosure
1 item
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Key Figures
Stress Capital Buffer: 2.5 percent
Dividend per share: $0.95 per share
Dividend increase: 16 percent
+3 more
6 metrics
Stress Capital Buffer
2.5 percent
SCB requirement through September 30, 2027
Dividend per share
$0.95 per share
Quarterly common dividend beginning with Q1 2026 declaration
Dividend increase
16 percent
Increase in quarterly common dividend starting first-quarter 2026
Capital returned to shareholders
$8.7 billion
Share repurchases and dividends over 12 months ended March 31, 2026
SCB period end date
September 30, 2027
End of current 2.5 percent SCB requirement period
Federal Reserve announcement date
February 4, 2026
Fed decision to maintain existing SCB requirements until 2027
Key Terms
Dodd-Frank Act Stress Test (DFAST), Stress Capital Buffer (SCB), forward-looking statements, hypothetical scenarios, +1 more
5 terms
Dodd-Frank Act Stress Test (DFAST) regulatory
"announced the release of the results of its company-run 2026 Dodd-Frank Act Stress Test (DFAST)."
Stress Capital Buffer (SCB) regulatory
"American Express will continue to be subject to its current Stress Capital Buffer (SCB) requirement of 2.5 percent"
Stress capital buffer (SCB) is the extra amount of capital a bank must hold above its normal minimums to ensure it can withstand a severe economic shock; regulators set it after running stress tests. For investors, the SCB is like a safety cushion that affects a bank’s ability to pay dividends, buy back shares, or lend—higher SCBs can signal greater resilience but may reduce near-term returns.
forward-looking statements regulatory
"This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
hypothetical scenarios technical
"The stress test results disclosed by the company are based on hypothetical scenarios prescribed by the Federal Reserve"
capital management framework financial
"Consistent with our disciplined capital management framework, we will continue to invest in long-term growth opportunities"
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 25, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
(Address of principal executive offices and zip code)
(212 ) 640-2000
(Registrant’s telephone number, including area code)
| Not Applicable | ||
| (Former name or former address, if changed since last report) | ||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure
On June 25, 2026, American Express Company issued a press release announcing the results of its company-run 2026 Dodd-Frank Act Stress Test (DFAST). The press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.
The company-run DFAST results are available on the company's Investor Relations website at ir.americanexpress.com.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits:
| Exhibit | Description | ||||
| 99.1 | Press release of American Express Company, dated June 25, 2026. | ||||
| 104 | The cover page of this Current Report on Form 8-K, formatted as inline XBRL. | ||||
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AMERICAN EXPRESS COMPANY | ||||||||
| (REGISTRANT) | ||||||||
| By: | /s/ James J. Killerlane III | |||||||
| Name: James J. Killerlane III | ||||||||
| Title: Corporate Secretary | ||||||||
Date: June 25, 2026
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EXHIBIT 99.1
| NEWS RELEASE | NEWS RELEASE | NEWS RELEASE | NEWS RELEASE | ||||||||
American Express Releases 2026 Dodd-Frank Act Stress Test Results
New York, June 25, 2026 — American Express Company (NYSE: AXP) today announced the release of the results of its company-run 2026 Dodd-Frank Act Stress Test (DFAST).
American Express will continue to be subject to its current Stress Capital Buffer (SCB) requirement of 2.5 percent, the minimum SCB requirement under the applicable regulations, through September 30, 2027. The decision is consistent with the Federal Reserve's February 4, 2026, announcement that it will maintain existing SCB requirements until 2027, absent supervisory action.
"Our stress test results reflect the continued strength of our balance sheet and our differentiated business model," said Christophe Le Caillec, Chief Financial Officer at American Express. "Consistent with our disciplined capital management framework, we will continue to invest in long-term growth opportunities, while maintaining strong capital levels and returning capital to shareholders."
As previously announced, American Express increased its quarterly dividend on common shares by 16 percent to $0.95 per share beginning with the first-quarter 2026 dividend declaration. The company has returned $8.7 billion of capital to its shareholders via share repurchases and common share dividends during the 12 months ended March 31, 2026.
The company-run DFAST results are available on the company’s Investor Relations website at ir.americanexpress.com.
The stress test results disclosed by the company are based on hypothetical scenarios prescribed by the Federal Reserve and other assumptions required under the DFAST rules. The results are not forecasts or predictions of future economic conditions or company performance. The company’s DFAST results may differ from those calculated and published by the Federal Reserve Board due to differences in models, methodologies, assumptions, and applicable capital and accounting rules.
ABOUT AMERICAN EXPRESS
American Express (NYSE: AXP) is a global payments and premium lifestyle brand powered by technology. Our colleagues around the world back our customers with differentiated products, services, and experiences that enrich lives and build business success.
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Founded in 1850 and headquartered in New York, American Express’ brand is built on trust, security, service, and a rich history of delivering innovation and Membership value for our customers. We seek to provide the world’s best customer experience every day to a broad range of consumers, small and medium-sized businesses, and large corporations, and we build and manage relationships with millions of merchants across our global network.
For more information about American Express, visit americanexpress.com, americanexpress.com/en-us/newsroom/, and ir.americanexpress.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Company’s expected business and financial performance and are subject to risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements due to a variety of factors, including those contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 and the Company’s other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no obligation to update or revise any forward-looking statements.
Media:
Amanda Miller, Amanda.C.Miller@aexp.com, +1.408.219.0563
Deniz Yigin, Deniz.Yigin@aexp.com, +1.332.999.0836
Investors/Analysts:
Kartik Ramachandran, Kartik.Ramachandran@aexp.com, +1.212.640.5574
Amanda Blumstein, Amanda.Blumstein@aexp.com, +1.212.640.5574
Source: American Express Company
Location: Global
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FAQ
What did American Express (AXP) disclose in its 2026 Dodd-Frank stress test update?
American Express released results of its company-run 2026 Dodd-Frank Act Stress Test. The firm will continue operating with a 2.5 percent Stress Capital Buffer through September 30, 2027, reflecting regulatory requirements and its stated focus on balance sheet strength and disciplined capital management.
What is American Express’s Stress Capital Buffer following the 2026 stress test?
American Express will maintain a Stress Capital Buffer of 2.5 percent through September 30, 2027. This is the minimum SCB level under applicable regulations and is consistent with the Federal Reserve’s February 4, 2026 decision to keep existing SCB requirements in place until 2027.
What dividend changes did American Express announce for 2026?
American Express previously increased its quarterly dividend on common shares by 16 percent to $0.95 per share, starting with the first-quarter 2026 dividend declaration. This higher payout reflects the company’s stated commitment to returning capital while maintaining strong capital levels.
How does American Express describe the nature of its 2026 stress test results?
American Express states its DFAST results are based on hypothetical scenarios prescribed by the Federal Reserve and required assumptions. The company emphasizes these are not forecasts of future economic conditions or performance, and may differ from Federal Reserve results due to different models and methodologies.
Where can investors find American Express’s detailed 2026 DFAST results?
Investors can access American Express’s detailed 2026 company-run DFAST results on the firm’s Investor Relations website at ir.americanexpress.com. The company also attached a press release summarizing these results as Exhibit 99.1 to its current report for additional context.