American Express Approves Stock Repurchase Of 120 Mln Shares

(RTTNews) - American Express Company (AXP) Wednesday said its board has approved the repurchase of up to 120 million common shares.

The authorization replaces the about 36 million common shares of common stock remaining from the previous Board authorization in 2019.

The timing and amount of common shares purchased under the company's authorized capital plans will depend on various factors, including the company's business plans, financial performance and market conditions.

Separately, the Board of Directors approved a $0.08 or 15 percent increase in the quarterly dividend on the company's common stock. The dividend was raised to $0.60 per common share, from $0.52, payable on May 10, 2023, to shareholders of record on April 7, 2023.