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Section 1: 8-K (8-K)

Document
0000004962false00000049622019-09-232019-09-23


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): September 23, 2019
 
AMERICAN EXPRESS COMPANY
(Exact name of registrant as specified in its charter)
   
New York 1-7657 13-4922250
(State or other jurisdiction
of incorporation or organization)
 (Commission File Number) (IRS Employer Identification No.)

200 Vesey Street,New York,New York10285
(Address of principal executive offices)(Zip Code)
 
Registrant's telephone number, including area code: (212) 640-2000  

Not Applicable
(Former name or former address, if changed since last report)
 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Shares (par value $0.20 per Share) AXP New York Stock Exchange
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐






Item 8.01Other Events

On September 23, 2019, American Express Company (the “Company”) issued a press release announcing the authorization to repurchase up to 120 million of its common shares, from time to time, subject to market conditions and in accordance with the Company’s capital plans that are, from time to time, reviewed and not objected to by the Board of Governors of the Federal Reserve System. The Company also announced an increase to the quarterly dividend on its common shares from $0.39 per share to $0.43 per share. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.


Item 9.01Financial Statements and Exhibits

(d) Exhibits


99.1
104The cover page of this Current Report on Form 8-K, formatted as inline XBRL



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SIGNATURE
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 

 AMERICAN EXPRESS COMPANY
 (REGISTRANT)
   
 By:/s/ Tangela S. Richter
  Name:  Tangela S. Richter
  Title:    Corporate Secretary
 
Date: September 23, 2019
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Section 2: EX-99.1 (EX-99.1)

Document

EXHIBIT 99.1


NEWS RELEASENEWS RELEASENEWS RELEASENEWS RELEASE

399799579_axplogo1.jpg

CONTACTS:
Marina H. Norville
212-640-2832
marina.h.norville@aexp.com
Andrew R. Johnson
212-640-8610
andrew.r.johnson@aexp.com

FOR IMMEDIATE RELEASE


AMERICAN EXPRESS BOARD AUTHORIZES REPURCHASE OF UP TO 120 MILLION SHARES, ANNOUNCES 10 PERCENT DIVIDEND INCREASE

NEW YORK – September 23, 2019 – The board of directors of American Express Company (NYSE: AXP) approved the repurchase of up to 120 million common shares, in accordance with the company’s capital plans that are, from time to time, reviewed and not objected to by the Federal Reserve. This authorization replaces the 41 million shares of common stock remaining from the previous board authorization in 2016. The timing and amount of common shares purchased under the company’s authorized capital plans will depend on various factors, including the company’s business plans, financial performance and market conditions.




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Separately, the board of directors approved a $0.04 – or 10 percent – increase in the quarterly dividend on the company’s common stock. The dividend was raised to $0.43 per common share, from $0.39, payable on November 8, 2019 to shareholders of record on October 4, 2019.

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About American Express
American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success.  Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, instagram.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.
Key links to products, services and corporate responsibility information: charge and credit cards, business credit cards, travel services, gift cards, prepaid cards, merchant services, Accertify, InAuth, corporate card, business travel, and corporate responsibility.




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