AMERICAN EXPRESS CO [AXP] - Liquidating Distribution
American Express Co will make a liquidating distribution with a dividend payment date set for September 15, 2031.
Why this matters
American Express Co, a prominent player in the financial services industry, is known for its credit card, charge card, and travel-related services, catering to a global customer base. The company has announced a liquidating distribution with a dividend payment date set for September 15, 2031. This action is linked to the issuance of Series E Preferred Shares, where there is a risk that the full liquidation preference amount of $1,000,000 per share may not qualify as Tier 1 capital under Federal Reserve capital adequacy guidelines. The transfer agent for this process is Computershare Trust Company, N.A.