Capital One Financial Corporation (COF) will raise its dividend by another 50 percent to 60 cents per share. Also a $0.60 per share special dividend will be paid to shareholders. The new dividend hike followed a 300 percent hike to 40 cents quarterly earlier in 2021. This comes after a dividend cut of 75.0 percent to $0.10 per share in 2020. 

Both the special and the regular dividend for a total amount of $1.20 per share will be payable March 1, 2021, to stockholders of record as of  February 17, 2021. A new regular annual dividend rate of $2.40 per share yields 1.5% at a stock price of $164. Capital One now pays an estimated $1.1 billion in dividends 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.