American Express increases quarterly dividend by 15 per cent to 23 cents

NEW YORK, N.Y. – American Express Co. is increasing its quarterly dividend by 15 per cent.

The New York company declared a dividend of 23 cents per share. That’s up 3 cents from the last quarter.

American Express will pay the dividend Aug. 9 to shareholders as of July 5.

It’s the first dividend increase by the charge card company since early 2012.

It’s also the second dividend increase of a component of the Dow Jones industrial average on Tuesday. Earlier, IBM said it was raising its dividend 12 per cent and authorizing a $5 billion share buyback plan.