Capital One's Board of Directors Authorizes the Repurchase of up to an Additional $300 Million of Shares of Common Stock

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Feb 17, 2016, 04:26 ET

MCLEAN, Va., Feb. 17, 2016 /PRNewswire/ -- Capital One Financial Corporation (NYSE: COF) today announced that the company's Board of Directors has authorized the repurchase of up to an additional $300 million of shares of common stock through the end of the second quarter of 2016. This amount is in addition to the $3.125 billion of share repurchases authorized by the board last year. The company notified the Federal Reserve of its intention to engage in additional share repurchases in excess of the amount included in its 2015 capital plan, and the Federal Reserve did not object. While the company expects to complete the total authorized amount of repurchases in the authorized period, the timing and exact amount of any Capital One common stock repurchases will depend on various factors, including market conditions, opportunities for growth, and the company's capital position and amount of retained earnings.

Forward-Looking Statements

Certain statements in this release may constitute forward-looking statements, which involve a number of risks and uncertainties. Capital One cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information due to a number of factors, including those stated in this press release and those listed from time to time in reports that Capital One files with the Securities and Exchange Commission, including, but not limited to, the Annual Report on Form 10-K for the year ended December 31, 2014.

About Capital One

Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $217.7 billion in deposits and $334.0 billion in total assets as of December 31, 2015. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has branches located primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.