Capital One Financial : Slashes Dividend by 75% to 10 Cents a Share

By Maria Armental

Capital One Financial Corp. slashed its quarterly dividend by 75% to 10 cents a share, the company said Friday.

The new payout, down from the current 40 cents a share, will be made on Aug. 20 to stockholders of record as of Aug. 10, Capital One said.

In the second quarter of 2009, the company slashed the dividend to 5 cents a share, from 37.5 cents a share.

Capital One has paid a dividend on its common stock every quarter since it became an independent company in February 1995.

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