Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity

Shareholders' Equity
3 Months Ended
Mar. 31, 2023
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
April 26, 2023 June 2, 2023 June 30, 2023 $ 0.22 
February 1, 2023 March 3, 2023 March 31, 2023 0.22 
(1) In 2023, and through May 1, 2023.
During the three months ended March 31, 2023, the Corporation repurchased and retired 67 million shares of common stock, which reduced shareholders’ equity by $2.2 billion.
During the three months ended March 31, 2023, in connection with employee stock plans, the Corporation issued 68 million shares of its common stock and, to satisfy tax withholding obligations, repurchased 26 million shares of its common stock. At March 31, 2023, the Corporation had reserved 425 million unissued shares of common stock for future issuances under employee stock plans, convertible notes and preferred stock.
On April 26, 2023, the Board of Directors declared a quarterly common stock dividend of $0.22 per share.
Preferred Stock
During the three months ended March 31, 2023, the Corporation declared $505 million of cash dividends on preferred stock. 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 2022 Annual Report on Form 10-K.