Item 8.01. Other Events.

On March 9, 2009, Capital One Financial Corporation issued a press release announcing that its Board of Directors expects to reduce the company's quarterly dividend from $0.375 per share to $0.05 per share, beginning in the second quarter of 2009. The next dividend is expected to be declared in April and paid in May. A copy of the press release is attached as Exhibit 99.1 hereto and is incorporated herein by reference.

Item 9.01. Financial Statements, Pro Forma Financial Information and Exhibits.

(d) Exhibits.

Exhibit No. Description of Exhibit
99.1 Press release, dated March 9, 2009.

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