Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity

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Shareholders' Equity
 9 Months Ended
Sep. 30, 2024
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 16, 2024 December 6, 2024 December 27, 2024 $ 0.26 
July 24, 2024 September 6, 2024 September 27, 2024 0.26 
April 25, 2024 June 7, 2024 June 28, 2024 0.24 
January 31, 2024 March 1, 2024 March 29, 2024 0.24 
(1) In 2024, and through October 29, 2024.
During the three and nine months ended September 30, 2024, the Corporation repurchased and retired 88 million and 253 million shares of common stock, which reduced shareholders’ equity by $3.5 billion and $9.6 billion, including excise taxes.
During the nine months ended September 30, 2024, in connection with employee stock plans, the Corporation issued 74 million shares of its common stock and, to satisfy tax withholding obligations, repurchased 28 million shares of common stock. At September 30, 2024, the Corporation had reserved 551 million unissued shares of common stock for future issuances under employee stock plans, convertible notes and preferred stock.
On October 16, 2024, the Board of Directors declared a quarterly common stock dividend of $0.26 per share.
Preferred Stock
During the three months ended September 30, 2024, June 30, 2024 and March 31, 2024, the Corporation declared $510 million, $310 million and $532 million of cash dividends on preferred stock, or a total of $1.4 billion for the nine months ended September 30, 2024. During the three months ended September 30, 2024, the Corporation fully redeemed Series X for $2.0 billion, and during the three months ended June 30, 2024, the Corporation fully redeemed Series U for $1.0 billion and Series JJ for $854 million. Additionally, on October 23, 2024, the Corporation fully redeemed Series Z for $1.4 billion. 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 2023 Annual Report on Form 10-K.