Credit card giant American Express (AXP) has raised its quarterly dividend payment by 17% after reporting record revenue and net income for 2024.
The New York City-based company reported fourth quarter 2024 earnings per share (EPS) of $3.04 U.S., which narrowly beat Wall Street’s forecast of $3.03 U.S.
Revenue in the quarter totaled $17.18 billon U.S., which also was slightly above the consensus estimate of $17.16 billion U.S. Spending by credit card holders rose 8% from a year ago.
For all of 2024, American Express delivered record revenue of $65.90 billion U.S., as well as record net income of $10.10 billion U.S.
Earnings per share in 2024 totaled $14.01 U.S., up 25% from the previous year.
American Express also said that it achieved record levels of annual card member spending, record net card fee revenues, and a record 13 million new card acquisitions during the year.
Owing to the record results, American Express increased its quarterly dividend payout by 17% to $0.82 U.S. per share.
Looking ahead, the company said that it expects revenue growth of between 8% and 10%, and earnings per share of $15 U.S. to $15.50 U.S. for all of 2025.
Analysts who track the company’s progress had forecast 2025 earnings of $15.24 U.S. a share.
The stock of American Express has increased 75% over the last 12 months to trade at $325.87 U.S. per share.
