Discover Financial Services Declares Quarterly Dividend for Common Stock

Rhea-AI Summary

The Board of Directors of Discover Financial Services has declared a quarterly cash dividend of $0.50 per share, payable on December 9, 2021. Shareholders on record as of November 24, 2021 will receive this dividend. Discover is a leading digital banking and payment services company in the U.S., known for its cash rewards credit card and a wide range of financial products. The company operates the Discover Global Network and has established a significant presence in the financial services sector since its inception in 1986.

Positive

• Quarterly cash dividend of $0.50 declared, enhancing income for shareholders.
• Strong brand recognition as a leading financial services provider.

Negative

• Future dividends and share repurchases are subject to discretion, raising uncertainty for shareholders.
• Potential risks and uncertainties could impact actual results and dividend amounts.

RIVERWOODS, Ill.--(BUSINESS WIRE)-- The Board of Directors of Discover Financial Services declared a quarterly cash dividend of $0.50 per share of common stock payable on December 9, 2021, to holders of record at the close of business on November 24, 2021.

About Discover

Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America's cash rewards pioneer, and offers private student loans, personal loans, home loans, checking and savings accounts and certificates of deposit through its banking business. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance around the world. For more information, visit www.discover.com/company.

This press release contains forward-looking statements. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made, which reflect management’s estimates, projections, expectations or beliefs at that time, and which are subject to significant risks and uncertainties that may cause actual results to differ materially. The amount and timing of any future dividends and share repurchases are subject to the discretion of the company’s board of directors and will depend upon the company’s results of operations, financial condition, cash requirements, future prospects, market conditions, capital requirements, applicable law and regulations (including federal securities laws and federal banking regulations) and other factors, and may be subject to regulatory approval or conditions. Additional factors impacting dividends and share repurchases can be found in "Business - Supervision and Regulation", “Risk Factors” and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the company's annual report on Form 10-K for the year ended December 31, 2020, and “Risk Factors” in the company’s quarterly report on Form 10-Q for the quarter ended June 30, 2021, which are filed with the SEC and available at the SEC's website (www.sec.gov). The Company does not undertake to update or revise forward-looking statements as more information becomes available.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211019006187/en/

Investor Contact:

Eric Wasserstrom

Investor Relations

224-405-5923

ericwasserstrom@discover.com

Media Contact:

Jon Drummond

Public Relations

224-405-1888

jondrummond@discover.com

Source: Discover Financial Services

FAQ

What is the dividend amount declared by Discover Financial Services?

Discover Financial Services declared a quarterly cash dividend of $0.50 per share.

When is the dividend payment date for Discover Financial Services?

The dividend payment date is December 9, 2021.

Who is eligible to receive the dividend from Discover Financial Services?

Shareholders on record as of November 24, 2021, are eligible to receive the dividend.

How does Discover Financial Services' dividend influence shareholders?

The declared dividend provides income for shareholders, reflecting the company's ongoing profitability.

What factors could affect future dividends for Discover Financial Services?

Future dividends depend on the company's financial condition, operational results, and market conditions.