
Capital One Financial Corporation (NYSE:COF) today announced that it will redeem all outstanding shares of its Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series M, $0.01 par value per share (&#34;Series

<p xmlns="http://www.w3.org/1999/xhtml">
Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/COF">COF</a>) today announced that it will redeem all outstanding shares of its Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series M, $0.01 par value per share ("Series M Preferred Stock") on September 1, 2026 (the "Series M Redemption Date").

</p><p xmlns="http://www.w3.org/1999/xhtml">
All one million outstanding shares of the Series M Preferred Stock (CUSIP: 14040HCF0) will be redeemed at a price of $1,000 per share of preferred stock on the Series M Redemption Date.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Regular dividends on the outstanding shares of the Series M Preferred Stock of $9.875 per share will be paid separately on the Series M Redemption Date, to holders of record as of the close of business on August 17, 2026, in the customary manner. Accordingly, the redemption price for the Series M Preferred Stock will not include any accrued and unpaid dividends. On and after the redemption date, all dividends on the shares of Series M Preferred Stock will cease to accrue.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The Series M Preferred Stock is held through The Depository Trust Company ("DTC") and will be redeemed in accordance with the procedures of DTC. Payment to DTC for the Series M Preferred Stock will be made by Computershare Trust Company, N.A., as redemption agent, in accordance with the Transfer Agency and Service Agreement and the Redemption Agent Agreement that govern the redemption of the Series M Preferred Stock. The address for the redemption agent is as follows:

</p><p xmlns="http://www.w3.org/1999/xhtml">
Computershare Trust Company, N.A.
<br xmlns="http://www.w3.org/1999/xhtml"></br>Attn: Corporate Actions
<br xmlns="http://www.w3.org/1999/xhtml"></br>150 Royall St.
<br xmlns="http://www.w3.org/1999/xhtml"></br>Canton, MA 02021

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Forward-Looking Statements</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Certain statements in this release may constitute forward-looking statements, which involve a number of risks and uncertainties. Forward-looking statements often use words such as "will," "anticipate," "target," "expect," "think," "estimate," "intend," "plan," "goal," "believe," "forecast," "outlook" or other words of similar meaning. Any forward-looking statements made by Capital One or on its behalf speak only as of the date they are made or as of the date indicated, and Capital One does not undertake any obligation to update forward-looking statements as a result of new information, future events or otherwise. Capital One cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information due to a number of factors. For additional information on factors that could materially influence forward-looking statements included in this press release, see the risk factors set forth under "Part I—Item 1A. Risk Factors" in the Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission (the "SEC") and Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About Capital One</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/COF">COF</a>) is a leading technology-based financial services company with $484.3 billion in deposits and $673.8 billion in total assets as of June 30, 2026. Headquartered in McLean, Virginia, the company operates as a premier global payments provider and diversified financial institution, delivering a broad suite of products and consumer lifestyle and shopping experiences through its Credit Card, Consumer Banking including its Global Payment Network, and Commercial Banking lines of business. As the only major U.S. bank to migrate entirely to the public cloud, Capital One leverages proprietary data and advanced analytics to democratize financial tools across its primary markets in the United States, Canada, and the United Kingdom.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260819319189r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260819319189/en/" rel="nofollow">https://www.businesswire.com/news/home/20260819319189/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Jeff Norris 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:Jeff.Norris@capitalone.com" shape="rect">Jeff.Norris@capitalone.com</a>

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Danielle Dietz 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:Danielle.Dietz@capitalone.com" shape="rect">Danielle.Dietz@capitalone.com</a>

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Angela Solomon 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:Angela.Solomon@capitalone.com" shape="rect">Angela.Solomon@capitalone.com</a>

</p>

Capital One Announces Full Redemption of Its Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series M

Capital One to Redeem All Series M Preferred Stock on Sep 1, 2026

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>Capital One Financial Corporation (NYSE:COF) today announced that it will redeem all outstanding shares of its Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series M, $0.01 par value per share (&amp;#34;Series</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Capital One will redeem all 1 million Series M preferred shares at $1,000 each on Sep 1, 2026, plus a final $9.875 per-share dividend. The $1.01B one-time cash outlay eliminates future Series M dividends and reduces Tier 1 capital, potentially weighing near-term liquidity while lowering long-term fixed financial costs.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>COF will redeem all Series M preferred stock on Sep 1, 2026.</li><li>1,000,000 shares redeemed at $1,000 each; CUSIP 14040HCF0.</li><li>Final dividend of $9.875 per share payable to record holders Aug 17, 2026.</li><li>One-time cash outlay about $1.01B; future Series M dividends cease.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Capital One Financial Corporation (COF)</strong>: Redeems Series M preferred stock on 9/1/2026; one-time cash outlay ~$1.01B; cessation of future Series M dividends.</li><li><strong>Computershare Trust Company, N.A. (NA)</strong>: Redemption agent handling payout to DTC; no market ticker.</li><li><strong>The Depository Trust Company (DTC) (NA)</strong>: Holds Series M for transfer; redemption will flow through DTC settlement.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category Type: Corporate Developments. This is a capital-structure Move by COF affecting funding costs and regulatory capital, with implications for liquidity and leverage.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Near-term liquidity may be pressured by a $1.01B cash outlay on redemption.</li><li>Final dividend of $9.875 per share ($9.875M total) due Aug 17, 2026.</li><li>Future Series M dividends cease, reducing ongoing fixed charges.</li><li>Redemption lowers Tier 1 capital, potentially affecting capital ratios.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Series M outstanding: 1,000,000 shares.</li><li>Redemption date: September 1, 2026.</li><li>Redemption price: $1,000 per share.</li><li>Final dividend: $9.875 per share; record date August 17, 2026.</li><li>CUSIP: 14040HCF0.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>One-time cash outlay (~$1.01B) weighs near-term liquidity; long-term cost of capital improves as Series M dividends stop.</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml">
Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/COF">COF</a>) today announced that it will redeem all outstanding shares of its Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series M, $0.01 par value per share ("Series M Preferred Stock") on September 1, 2026 (the "Series M Redemption Date").

</p><p xmlns="http://www.w3.org/1999/xhtml">
All one million outstanding shares of the Series M Preferred Stock (CUSIP: 14040HCF0) will be redeemed at a price of $1,000 per share of preferred stock on the Series M Redemption Date.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Regular dividends on the outstanding shares of the Series M Preferred Stock of $9.875 per share will be paid separately on the Series M Redemption Date, to holders of record as of the close of business on August 17, 2026, in the customary manner. Accordingly, the redemption price for the Series M Preferred Stock will not include any accrued and unpaid dividends. On and after the redemption date, all dividends on the shares of Series M Preferred Stock will cease to accrue.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The Series M Preferred Stock is held through The Depository Trust Company ("DTC") and will be redeemed in accordance with the procedures of DTC. Payment to DTC for the Series M Preferred Stock will be made by Computershare Trust Company, N.A., as redemption agent, in accordance with the Transfer Agency and Service Agreement and the Redemption Agent Agreement that govern the redemption of the Series M Preferred Stock. The address for the redemption agent is as follows:

</p><p xmlns="http://www.w3.org/1999/xhtml">
Computershare Trust Company, N.A.
<br xmlns="http://www.w3.org/1999/xhtml"></br>Attn: Corporate Actions
<br xmlns="http://www.w3.org/1999/xhtml"></br>150 Royall St.
<br xmlns="http://www.w3.org/1999/xhtml"></br>Canton, MA 02021

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Forward-Looking Statements</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Certain statements in this release may constitute forward-looking statements, which involve a number of risks and uncertainties. Forward-looking statements often use words such as "will," "anticipate," "target," "expect," "think," "estimate," "intend," "plan," "goal," "believe," "forecast," "outlook" or other words of similar meaning. Any forward-looking statements made by Capital One or on its behalf speak only as of the date they are made or as of the date indicated, and Capital One does not undertake any obligation to update forward-looking statements as a result of new information, future events or otherwise. Capital One cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information due to a number of factors. For additional information on factors that could materially influence forward-looking statements included in this press release, see the risk factors set forth under "Part I—Item 1A. Risk Factors" in the Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission (the "SEC") and Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About Capital One</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/COF">COF</a>) is a leading technology-based financial services company with $484.3 billion in deposits and $673.8 billion in total assets as of June 30, 2026. Headquartered in McLean, Virginia, the company operates as a premier global payments provider and diversified financial institution, delivering a broad suite of products and consumer lifestyle and shopping experiences through its Credit Card, Consumer Banking including its Global Payment Network, and Commercial Banking lines of business. As the only major U.S. bank to migrate entirely to the public cloud, Capital One leverages proprietary data and advanced analytics to democratize financial tools across its primary markets in the United States, Canada, and the United Kingdom.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260819319189r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260819319189/en/" rel="nofollow">https://www.businesswire.com/news/home/20260819319189/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Jeff Norris 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:Jeff.Norris@capitalone.com" shape="rect">Jeff.Norris@capitalone.com</a>

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Danielle Dietz 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:Danielle.Dietz@capitalone.com" shape="rect">Danielle.Dietz@capitalone.com</a>

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Angela Solomon 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:Angela.Solomon@capitalone.com" shape="rect">Angela.Solomon@capitalone.com</a>

</p>

Capital One will redeem all 1 million Series M preferred shares at $1,000 each on Sep 1, 2026, plus a final $9.875 per-share dividend. The $1.01B one-time cash outlay eliminates future Series M dividends and reduces Tier 1 capital, potentially weighing near-term liquidity while lowering long-term fixed financial costs.

News insight

Capital One Announces Full Redemption of Its Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series M

AI summary

Sentiment rationale

Key facts

Corporate Developments