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American Express To Maintain Quarterly Dividend

American Express Co. (AXP) said that it plans to maintain its current
quarterly dividend of $0.43 per share in the third quarter of 2020.

In light of COVID-19 and its impact on the economy, the company said it will resubmit its capital plan to the Federal Reserve in the fourth quarter because of changes in financial markets and the macroeconomic outlook.

The company's preliminary stress capital buffer (SCB) requirement, which will take effect on October 1, 2020, is 2.5 percent. Taking into account the preliminary SCB, the minimum Common Equity Tier 1 (CET1) capital ratio for the company will effectively be 7.0 percent, subject to confirmation of the SCB for
the company through the CCAR process.

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