By Will Feuer
American Express plans to raise its quarterly dividend by 17% to 70 cents a share, starting with the first-quarter declaration.
Based on American Express' closing stock price on Thursday of $188.07, the increase would bring the credit card company's annual dividend yield to about 1.5% and the annual payout to $2.80.
The higher dividend comes after American Express issued an upbeat earnings outlook for the current year. The company's fourth-quarter earnings and revenue fell short of Wall Street estimates.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
01-26-24 0720ET