Capital One Authorizes $1 Billion Share Buyback

Upon completion of its previously announced sale of Best Buy's private label and co-branded credit card portfolio, the board of directors of Capital One Financial (NYSE: COF  )  has authorized the repurchase of up to $1 billion of its outstanding stock, the company announced today.

The Federal Reserve has given Capital One until March 31, 2014, to complete the stock buyback, assuming the Best Buy card portfolio sale is completed, the company said. According to Capital One, the card portfolio sales should be concluded in the third quarter of this year.

The total amount and timing of the stock repurchases will depend on a number of factors, including "market conditions, Capital One's capital position, and internal capital generation," the company said. Capital One stock is trading at $63.74 per share as of this writing.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2521045, ~/Articles/ArticleHandler.aspx, 9/26/2016 8:24:23 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,094.83 -166.62 -0.91%
S&P 500 2,146.10 -18.59 -0.86%
NASD 5,257.49 -48.26 -0.91%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/26/2016 4:00 PM
COF $70.81 Down -0.47 -0.66%
Capital One Financ… CAPS Rating: ***