American Express (AXP) plans to increase the regular quarterly dividend on its common shares outstanding by approximately 20 percent, from 43 cents to 52 cents per share beginning with the first quarter 2022, subject to approval by the company’s board of directors. This is the first dividend hike by AXP since 2019.

Update March 10, 2022: American Express has indeed hiked its dividend to 52 cents per share as previously announced. The next AXP dividend of $0.52 per share will be paid on May 10, 2022 to shareholders of record on April 8, 2022. The new annual dividend rate yields 1.1% at a stock price of $191.

American Express is an integrated payments company. The company's principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its operating segments are: Global Consumer Services Group (GCSG), Global Commercial Services (GCS) and Global Merchant & Network Services (GNMS). American Express began doing business on March 28, 1850 and was first listed on the New York Stock Exchange on May 18, 1977. The company had increased dividends every year since 2012.