AMERICAN EXPRESS ANNOUNCES INCREASE IN QUARTERLY DIVIDEND
NEW YORK, May 21, 2003 -- The board of directors of American Express Company today approved a $0.02 or 25 percent increase in the quarterly dividend on the company's common stock to $0.10 a share from $0.08 a share, payable August 8, 2003 to shareholders of record on July 3, 2003.
Kenneth I. Chenault, Chairman and Chief Executive Officer, said, "The steps we've taken over the last two years to reduce expenses, strengthen our risk profile and increase investments in growth initiatives have allowed us to deliver solid and consistent earnings results. The dividend increase we are announcing today reflects the strong overall competitive position of our business and our solid underlying capital structure."
The last increase in the common stock dividend at American Express was on May 10, 2000, when the dividend was adjusted for a 3-to-1 stock split.
American Express is a diversified worldwide travel, financial and network services company founded in 1850. It is a world leader in charge and credit cards, Travelers Cheques, travel, financial planning, investment products, insurance and international banking.
