Welcome to our dedicated page for American Express Co news (Ticker: AXP), a resource for investors and traders seeking the latest updates and insights on American Express Co stock.
American Express Company (AXP) is a prominent multinational financial services corporation headquartered in New York City. Known for its specialization in payment cards, American Express is one of the most valuable companies globally and a key component of the Dow Jones Industrial Average.
Operating in around 130 countries, American Express provides a variety of charge and credit card payment products to both consumers and businesses. Its business is divided into three main segments: Global Consumer Services, Global Commercial Services, and Global Merchant and Network Services. Beyond its payment cards, the company offers expense management tools, consulting services, and business loans. The merchant payment network operated by American Express is highly profitable, facilitating transactions worldwide.
In recent news, American Express has agreed to sell its subsidiary Accertify to Accel-KKR, a private equity firm. Accertify is known for its advanced fraud prevention, chargeback management, and payment gateway solutions. This strategic move is expected to enable Accertify to accelerate its growth and product innovation in the fraud prevention market as an independent entity.
American Express continues to innovate and expand its services, adapting to the growing digital economy. The company remains committed to providing customers with access to products, insights, and experiences that enrich lives and build business success.
American Express Company (NYSE:AXP) has announced a dividend of $4,240.28 per share on its 3.550% Fixed Rate Reset Noncumulative Preferred Shares, Series D. This dividend is payable on September 15, 2021, to shareholders of record as of September 1, 2021. This announcement underscores the company's commitment to returning value to shareholders while maintaining its position as a global leader in integrated payments.
The Amex® Gold Card Pop-Up Diner is a traveling restaurant operating in four cities from September 10 to October 3, 2021, featuring exclusive culinary experiences by top Resy restaurants. Each city will showcase unique diner-inspired menus, including offerings from Andros Taverna in Chicago, Osteria in Philadelphia, Anju in Washington, D.C., and Rezdôra in Brooklyn. The event also includes a complimentary game for Gold Card Members, with prizes such as Delta gift cards. Dine-In tickets are $75 and takeout packages are $28, with sales starting on August 10 and August 12, respectively.
American Express Company (NYSE: AXP) will participate in two upcoming virtual investor conferences. On September 14, 2021, Vice Chairman and CFO Jeffrey C. Campbell will speak at the Barclays Global Financial Services Conference at 8:15 a.m. ET. On September 17, 2021, Douglas E. Buckminster, Vice Chairman and Group President, will present at the Autonomous Research Future of Commerce Symposium at 10:00 a.m. ET. Live webcasts will be available through the American Express Investor Relations website, with replays accessible afterward.
American Express Company (NYSE: AXP) reported a strong second-quarter net income of $2.3 billion, translating to $2.80 per share, a significant increase from $257 million or $0.29 per share last year. Total revenues net of interest expense rose 33% to $10.2 billion, reflecting robust Card Member spending. The company benefited from $866 million in credit reserve releases, predominantly due to solid credit performance. Despite a 44% increase in expenses to $7.9 billion, optimism remains high for continued growth in the core U.S. market.
American Express Company (NYSE: AXP) has announced dividends for its Series B and C Preferred Shares. The 5.200% Fixed Rate / Floating Rate Noncumulative Preferred Shares, Series B will pay a quarterly dividend of $9,059.25 per share on August 16, 2021, for shareholders of record as of August 1, 2021. The 4.900% Fixed Rate / Floating Rate Noncumulative Preferred Shares, Series C will have a quarterly dividend of $8,698.80 per share, payable on September 15, 2021, to shareholders of record on September 1, 2021.
American Express (NYSE: AXP) announced additional $25,000 enhancement grants for 25 Black-owned small businesses from its Coalition to Back Black Businesses program. Approximately 60% of recipients are Black women-owned. Established to empower Black businesses, the Coalition has committed $10 million, distributing over 600 grants across 33 states since its inception in 2020. With the latest funding, businesses aim to improve online presence, relocate, and enhance marketing. Applications for the 2021 grants will open this September, expanding support for U.S. Black-owned small businesses.
American Express has launched an enhanced U.S. Consumer Platinum Card, offering added value with expanded travel, dining, wellness, retail, and entertainment benefits, totaling over $1,400 annually for Card Members. Key features include a $200 hotel credit with Amex Travel, a $179 CLEAR membership credit, and enhanced airport lounge access with over 1,300 lounges worldwide. Additionally, the card now includes up to $240 in digital entertainment credits, a $300 Equinox fitness credit, and exclusive dining experiences through Resy. The annual fee is set at $695, effective for renewals from January 1, 2022.
American Express (AXP) has launched its "Let’s Go Shop Small" campaign with a $100 million investment aimed at supporting small businesses across the globe. This initiative is part of a broader effort to bolster the recovery of local enterprises post-pandemic. The campaign also features partnerships with Pinterest to promote digital shopping for small businesses. According to a new study, 47% of small business owners are worried about profits during summer, but shopping small could potentially inject $27 billion into the economy.
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