American Express raises dividend 13 percent

Staff Writer
Columbus CEO

NEW YORK (AP) — American Express is raising its dividend 13 percent, boosting the quarterly payout to 26 cents from 23 cents.

The New York company says its next dividend will be paid Aug. 8 to shareholders of record on July 11.

In April, American Express Co. said its first-quarter net income and revenue grew as cardholders spent more money.

The company's cardholders tend to be more affluent than other credit card users, which has helped bolster the company throughout the slow economic recovery. American Express also issues its own cards, unlike its competitors. That means it gets more fees from stores and more income from interest.