Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity

v3.21.2
Shareholders' Equity
 9 Months Ended
Sep. 30, 2021
Equity [Abstract]  
Shareholders' Equity Shareholders’ Equity
Common Stock
Declared Quarterly Cash Dividends on Common Stock (1)
Declaration Date Record Date Payment Date Dividend Per Share
October 20, 2021 December 3, 2021 December 31, 2021 $ 0.21 
July 21, 2021 September 3, 2021 September 24, 2021 0.21 
April 22, 2021 June 4, 2021 June 25, 2021 0.18 
January 19, 2021 March 5, 2021 March 26, 2021 0.18 
(1)In 2021, and through October 29, 2021
During the three and nine months ended September 30, 2021, the Corporation repurchased and retired 248 million and 452 million shares of common stock, which reduced shareholders’ equity by $9.9 billion and $17.6 billion.
During the nine months ended September 30, 2021, in connection with employee stock plans, the Corporation issued 66 million shares of its common stock and, to satisfy tax withholding obligations, repurchased 26 million shares of its common stock. At September 30, 2021, the Corporation had reserved 562 million unissued shares of common stock for future issuances under employee stock plans, convertible notes and preferred stock.
On October 20, 2021, the Board of Directors declared a quarterly common stock dividend of $0.21 per share.
Preferred Stock
During the three months ended March 31, 2021, June 30, 2021 and September 30, 2021, the Corporation declared $490 million, $260 million and $431 million of cash dividends on preferred stock, or a total of $1.2 billion for the nine months ended September 30, 2021. For more information on the Corporation's preferred stock, including liquidation preference, dividend requirements and redemption period, see Note 13 – Shareholders’ Equity to the Consolidated Financial Statements of the Corporation’s 2020 Annual Report on Form 10-K.
On October 26, 2021, the Corporation issued 52,000 shares of 4.250% Non-Cumulative Preferred Stock, Series QQ for $1.3 billion, with quarterly dividends commencing in February 2022. The Series QQ preferred stock has a liquidation preference of $25,000 per share and is subject to certain restrictions in the event the Corporation fails to declare and pay full dividends.