Capital One Financial Corporation (COF) will raise its dividend by 300 percent to 40 cents quarterly in 2021. This comes after a dividend cut of 75.0 percent to $0.10 per share in 2020. The last dividend hike was announced by the company in 2015, when the quarterly payment was boosted by a third to 40 cents per share.

The next dividend is payable March 1, 2021, to stockholders of record as of  February 17, 2021. A new annual dividend rate of $1.60 per share yields 1.4% at a stock price of $112.66. Capital One now pays an estimated $732 million in dividens annually to shareholders.

Capital One Financial Corporation is a financial holding company whose subsidiaries include Capital One, N.A., and Capital One Bank (USA), N.A.. The company, headquartered in McLean, Virginia,  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, Louisiana, Texas, Maryland, Virginia, New Jersey and the District of Columbia. Capital One Financial Corporation has paid a dividend to shareholders every year since 1995.