By Denny Jacob

American Express Co. on Wednesday said its board authorized a share repurchase plan and raised its quarterly dividend.

The New York City-based credit-card company said the board approved the repurchase of up to 120 million common shares, replacing the roughly 36 million shares remaining from a previous authorization the board approved in 2019.

Additionally, the board increased the quarterly dividend to 60 cents a share from 52 cents, a 15% increase. The dividend is payable on May 10 to shareholders of record on April 7.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

March 08, 2023 16:52 ET (21:52 GMT)

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