American Express Board Approves New Stock-Buyback Plan, Raises Dividend
September 23 2019 - 3:46PM
Dow Jones News
By Micah Maidenberg
American Express Co. (AXP) is teeing up a new share buyback
effort and will hike its dividend.
The board of New York-based American Express approved a plan
that calls on the credit card and payments company to purchase up
to 120 million shares of its stock.
The new share-repurchase program replaces the 41 million shares
of stock remaining on a prior buyback effort the board authorized
in 2016, American said.
Shares of American were trading up about 1% to $117.85 Monday,
and have gained 24% so far this year.
The board also increased American's quarterly dividend payment,
increasing it to 43 cents a share from 39 cents.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
September 23, 2019 15:31 ET (19:31 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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