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Capital One's Series P Preferred Stock Redemption

On June 25, 2025, Capital One Financial Corporation (NYSE: COF), a leading financial institution based in McLean, Virginia, made a significant announcement regarding its Series P Preferred Stock. The company declared that it will fully redeem all outstanding shares of its 6.125% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series P, alongside the corresponding depositary shares that represent fractional interests in those shares.

Key Details of the Redemption

The redemption will take effect on June 30, 2025, establishing this date as the Series P Redemption Date. Capital One stated that each depositary share will be redeemed at a price of $1,000, which equals $100,000 for each share of the preferred stock. In addition, holders of the preferred stock will receive dividends that have accrued but not yet declared from March 23, 2025, up until the redemption date.

The company clarified that after this redemption date, no further dividends will accrue on the Series P Preferred Stock, marking an end to any financial obligation tied to these shares.

Process of Redemption

The Series P Depositary Shares are managed through The Depository Trust Company (DTC). The actual redemption will be handled via Computershare Trust Company, N.A., designated as the redemption agent. Investors and shareholders can expect payments to be processed in alignment with the established guidelines set forth in the Deposit Agreement governing the Series P Depositary Shares.

Redemption Agent Details

Shareholders who wish to inquire further about the redemption can reach out to the designated redemption agent. Here are the contact details for Computershare:

Computershare Trust Company, N.A.
Attn: Corporate Actions
150 Royall St.
Canton, MA 02021

Understanding Forward-Looking Statements

It is important to note that this announcement may contain forward-looking statements, which are subject to various risks and uncertainties. Terms such as 'expect,' 'anticipate,' and similar phrases often denote forward-looking information. Capital One underscores the inherent risks associated with such statements and assures stakeholders that it does not commit to updating any forward-looking information beyond the date of this announcement. Stakeholders are encouraged to review risk factors outlined in the company's Annual Report on Form 10-K, filed with the Securities and Exchange Commission (SEC).

About Capital One

Founded in 1994, Capital One Financial Corporation has grown into one of the largest and most diversified finance companies in the United States. As of March 31, 2025, the company reported a staggering $367.5 billion in deposits and total assets amounting to $493.6 billion. Capital One offers a diverse range of financial products and services to consumers, small businesses, and commercial clients through various channels. The company operates branches and Cafés in several states, including New York, Louisiana, Texas, Maryland, Virginia, and the District of Columbia. Recognized as a Fortune 500 company, Capital One trades under the ticker symbol 'COF' and is included in the S&P 100 Index. This series of strategic decisions reflects Capital One’s ongoing commitment to optimizing its financial structure and maximizing value for its shareholders.

In conclusion, the upcoming redemption of Series P Preferred Stock signifies a pivotal moment for both Capital One and its investors. As the company navigates the complexities of the financial marketplace, this move may align with its broader strategy for growth and stability in the financial sector.