Shareholder' Equity

3 Months Ended

Mar. 31, 2015

Equity [Abstract]

Shareholder' Equity

17. Shareholders’ Equity

Comprehensive Capital Plan

During the first quarter of 2015, we completed $208 million of common share repurchases under our 2014 capital plan, which expired on March 31, 2015. On March 11, 2015, the Federal Reserve announced that it did not object to our 2015 capital plan submitted as part of the annual CCAR process. The 2015 capital plan includes a common share repurchase program of up to $725 million. Share repurchases under the capital plan have been authorized by our Board and include repurchases to offset issuances of common shares under our employee compensation plans. Common share repurchases under the 2015 capital plan, which began in the second quarter of 2015, are expected to be executed through the second quarter of 2016.

Our 2015 capital plan also proposed an increase in our quarterly common share dividend from $.065 to $.075 per share, which will be evaluated by our Board in May. An additional potential increase in our quarterly common share dividend, up to $.085 per share, will be considered by the Board in 2016 for the fifth quarter of the 2015 capital plan.