SYNCHRONY FINANCIAL - SYF STOCK NEWS

On April 22, 2022, Sam's Club (WMT) and Synchrony (SYF) unveiled a new promotion offering Sam's Club Mastercard holders 5% back in Sam's Cash on electric vehicle (EV) charges, effective May 1. An additional promotion will boost this to 10% in May. With nearly 50,000 charging stations across the U.S., this initiative supports cardholders while promoting environmental sustainability. Sam's Club aims to enhance value for members and strengthen its partnership with Synchrony, reflecting a commitment to both customer satisfaction and sustainability.

Synchrony Financial (NYSE: SYF) has announced a quarterly cash dividend of $0.22 per share of common stock, payable on May 12, 2022, to shareholders on record as of the close on May 2, 2022. Additionally, a dividend of approximately $14.06 per share for its 5.625% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, will be paid on May 16, 2022, to holders of record on the same date. These dividends reflect Synchrony's commitment to providing returns to its shareholders.

Treez, a leading cloud commerce platform for the cannabis market, has secured $51 million in Series C funding, elevating its valuation to over $260 million. Key investors include Long Ridge, Kayne Partners, and Synchrony Financial (NYSE: SYF). The funds will enhance product innovation, support aggressive sales growth, and expand Treez's market presence from eight states. The company also achieved an SOC 2 Type 1 audit for compliance and data security, and it experienced 82% revenue growth in 2021, reflecting its rapid expansion.

Cutera and Synchrony have formed an exclusive partnership to enhance patient financing for dermatology practices in the U.S., facilitating access to AviClear, the first FDA-cleared laser treatment for acne. This collaboration aims to alleviate cost concerns for millions of acne sufferers by allowing practices to offer CareCredit payment options, making treatments more accessible. This initiative is expected to boost patient confidence and address the emotional impact of acne, providing a valuable resource for families seeking effective acne solutions.

Synchrony Financial (NYSE: SYF) announced a new share repurchase program of up to $2.8 billion, set to commence this quarter and run through June 30, 2023. This program adds to the remaining $250 million from a prior initiative, increasing total repurchase authorization to approximately $3.1 billion. Additionally, the company plans to raise its quarterly dividend from $0.22 to $0.23 per share, starting in the third quarter of 2022. The share repurchases will depend on market conditions and regulatory factors.

Synchrony Financial (NYSE: SYF) reported its Q1 2022 financial results for the period ending March 31, 2022. Key highlights include a comprehensive review of their digital product suite, which serves various sectors such as retail and healthcare. An investor conference call is scheduled for 8:00 AM ET to discuss these results and future business drivers. Detailed financial data can be accessed on its investor relations website. Synchrony aims to connect partners and consumers through innovative financing solutions and a seamless digital experience.

Synchrony (NYSE: SYF) and Guitar Center have renewed their strategic partnership, initiated in 2015, to provide a private label credit program for customers. This program allows flexible financing options, with Guitar Center Gear Card customers receiving 5% rewards on purchases across nearly 300 Guitar Center locations and online. The partnership aims to make music more accessible for musicians, from beginners to professionals, by reducing financial barriers. Synchrony emphasizes enhancing customer experience via prequalification processes for credit without affecting credit scores.

Synchrony (NYSE: SYF) has joined the Worker Financial Wellness Initiative, a coalition focused on enhancing workers' financial health and security, alongside notable companies like Chipotle and Prudential. This initiative emphasizes the importance of financial well-being in overall workforce resilience. Synchrony is committed to conducting financial wellness assessments and has previously raised its minimum wage to $20 per hour. The company also highlights its competitive benefits, supporting employees' wellness across various domains, including health and finances.