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Capital One to fully redeem series C, series D preferred shares

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Capital One to fully redeem series C, series D preferred shares

Capital One Financial Corp. will redeem all outstanding fixed-rate noncumulative perpetual series C and D preferred shares and their corresponding depositary shares on the dividend payment of Dec. 2.

Each series C and series D depositary share represents a 1/40th interest in their respective preferred stock. There are 20 million series C and 20 million series D depositary shares set to be redeemed, the McLean, Va.-based company said.

The depositary shares will be redeemed at $25 each, equal to $1,000 per share of preferred stock.