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American Express board OKs new stock repurchase plan, dividend increase

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American Express board OKs new stock repurchase plan, dividend increase

American Express Co.'s board approved the repurchase of up to 120 million common shares, replacing the 2016 authorization under which 41 million common shares remained.

Separately, the board raised the quarterly dividend on the company's common stock to 43 cents per share from the previous payout of 39 cents per common share.

The dividend will be paid Nov. 8 to shareholders of record on Oct. 4.