COF Capital One Financial Corporation

By Colin Kellaher

Capital One Financial Corp. (COF) on Friday said it will redeem all 35 million shares of its Series B fixed-rate non-cumulative perpetual preferred stock on March 2.

The McLean, Va., financial holding company said it will redeem its Series B depositary shares, which each represent a 1/40th interest in a preferred share, at $25 apiece, equivalent to $1,000 per preferred share.

Capital One said it will pay $15 regular dividends on the preferred shares separately on the redemption date, adding that the redemption price won't include any accrued and unpaid dividends.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

January 31, 2020 09:05 ET (14:05 GMT)

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