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American Express Board Authorizes Repurchase of up to 120 Million Shares, Announces 10 Percent Dividend Increase

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.

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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Marina H. Norville

Andrew R. Johnson