Welcome to our dedicated page for American Express Company news (Ticker: AXP), a resource for investors and traders seeking the latest updates and insights on American Express Company 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 (NYSE: AXP) and Resy launched the Order In, Help Out campaign to encourage takeout orders, especially on #TakeoutTuesday. With over half of U.S. restaurant owners considering closing permanently due to the pandemic, the campaign aims to raise awareness of the importance of takeout, which generates over $700 million in daily sales for the industry. American Express is offering dining credits up to $220 for eligible Card Members and supporting restaurants through initiatives like fee relief on Resy.
American Express (AXP) announced the opening of its 14th Centurion Lounge at Denver International Airport (DEN) on February 1, 2021. The lounge spans over 14,000 square feet, offering a safe and comfortable environment for travelers. Guests will enjoy unique amenities such as a Craft Beer Bar featuring local brews, a menu curated by award-winning Chef Lachlan Mackinnon-Patterson, and a game room. Enhanced health measures are in place to ensure safety during this time of increased travel interest, with 49% of consumers planning to fly this summer.
American Express Company (NYSE: AXP) has elected Thomas J. Baltimore, Jr. to its Board of Directors, effective January 27, 2021. Baltimore is a seasoned leader in hospitality, possessing over 30 years of experience, including significant roles at Park Hotels & Resorts, which he has led since 2016. His expertise in capital markets and strategic management is expected to enhance American Express's board. Stephen J. Squeri, the CEO of American Express, emphasized the value Baltimore will bring as the company pursues long-term growth strategies.
American Express Company (NYSE: AXP) has announced dividends for its Series B and C Preferred Shares. The quarterly dividend for Series B is set at $9,325.22 per share, payable on February 16, 2021. Shareholders must be on record by February 5, 2021. For Series C, the dividend is $8,753.75 per share, payable on March 15, 2021, with a record date of March 1, 2021. This reflects the Company's commitment to providing returns to its shareholders.
American Express Company (NYSE: AXP) reported a fourth-quarter net income of $1.4 billion, or $1.76 per share, marking a 15% decline from $1.7 billion a year prior. Total revenues net of interest expense decreased 18% to $9.4 billion. The company noted strong credit performance with delinquencies and write-offs at low levels. Despite challenges, Amex sees a path to recovery and aims to return to its original EPS expectations by 2022. For the full year, net income was $3.1 billion, down 54% from $6.8 billion in 2019.
American Express (NYSE: AXP) has announced new offers for U.S. Consumer, Small Business, and Cobrand Card Members as well as small merchants, emphasizing support for pandemic recovery. The new offers include up to $180 in statement credits through PayPal and up to $1,700 in value through Amex Offers for eligible Consumer Platinum Card Members. Small Business Card Members can earn additional Membership Rewards points and receive $250 back on qualifying purchases. Furthermore, American Express continues to assist small merchants with discounts to bolster their digital presence.
American Express Company (NYSE: AXP) will hold a live audio webcast of its earnings conference call at 8:30 a.m. (ET) on January 26, 2021, to discuss its fourth-quarter and full-year 2020 financial results. The financial results, along with presentation materials, will be made available at 7 a.m. (ET) on the same day. The webcast can be accessed via the American Express Investor Relations website. This event provides a key opportunity for investors to evaluate the company's financial performance and outlook.
The Board of Directors of American Express Company (NYSE: AXP) has declared a quarterly dividend of $0.43 per common share. This dividend is payable on February 10, 2021, to shareholders of record on January 8, 2021. American Express continues to provide a range of payment services globally, enhancing customer experiences and business success.
American Express (NYSE: AXP) announced the finale of the American Express UNSTAGED series with a benefit concert featuring Shawn Mendes on December 6, 2020. This event, promoting Mendes' new album Wonder, aims to reconnect Card Members with exclusive music experiences amidst pandemic constraints. Attendees can RSVP for free or purchase exclusive packages, with a portion of ticket sales benefiting the Shawn Mendes Foundation. The series has successfully engaged fans globally, enhancing American Express's brand presence in entertainment during a time of limited in-person events.
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