Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity

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Shareholders' Equity
 3 Months Ended
Mar. 31, 2013
Stockholders' Equity Note [Abstract]  
Shareholders' Equity
NOTE 12 – Shareholders' Equity
 
Common Stock

The table below presents the declared quarterly cash dividends on common stock during 2013 and through May 7, 2013.

Declaration Date
Record Date
Payment Date
Dividend Per Share
April 30, 2013
June 7, 2013
June 28, 2013
 
$
0.01

 
January 23, 2013
March 1, 2013
March 22, 2013
 
0.01

 


On March 14, 2013, the Corporation announced that its Board of Directors authorized the repurchase of up to $5.0 billion of common stock. The timing and amount of common share repurchases will be consistent with the Corporation's 2013 capital plan. The Corporation did not have any unregistered sales of its equity securities during the three months ended March 31, 2013.

During the three months ended March 31, 2013, in connection with employee stock plans, the Corporation issued approximately 72 million shares and repurchased approximately 28 million shares of its common stock to satisfy tax withholding obligations. At March 31, 2013, the Corporation had reserved 1.8 billion unissued shares of common stock for future issuances under employee stock plans, common stock warrants, convertible notes and preferred stock.

Preferred Stock

During the three months ended March 31, 2013, the dividends declared on preferred stock were $373 million.

On May 1, 2013, the Corporation redeemed approximately $2.9 billion of its 8.20% Non-Cumulative Preferred Stock, Series H. On April 1, 2013, a notice of redemption was sent to holders of the Corporation's 8.625% Non-Cumulative Preferred Stock, Series 8, including holders of depositary shares representing interests therein, to redeem approximately $2.7 billion of the Series 8 Preferred Stock on May 28, 2013.