Synchrony Announces Quarterly Common Stock Dividend of $0.22 Per Share

Rhea-AI Summary

Synchrony Financial (NYSE: SYF) declared a quarterly cash dividend of $0.22 per share of common stock, payable on August 13, 2020, for shareholders of record as of August 3, 2020. Additionally, a dividend of approximately $14.06 per share on its 5.625% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, is set for August 17, 2020. This signifies continued confidence in shareholder returns, reinforcing Synchrony's position as a leading consumer financial services company.

Positive

• Quarterly cash dividend of $0.22 per common share highlights commitment to shareholder returns.
• Dividend of approximately $14.06 on Series A Preferred Stock reflects strong capital management.

Negative

• None.

STAMFORD, Conn., July 22, 2020 /PRNewswire/ -- Synchrony Financial (NYSE: SYF) announced today that its Board of Directors declared a quarterly cash dividend of $0.22 per share of common stock, payable on August 13, 2020 to holders of record at the close of business on August 3, 2020.

The Board of Directors also declared a quarterly cash dividend on the outstanding shares of its 5.625% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (the "Series A Preferred Stock").  Each outstanding share of the Series A Preferred Stock is represented by depositary shares, each representing a 1/40th interest in a share of Series A Preferred Stock.  The dividend of approximately $14.06 per share (equivalent to $0.351563 per outstanding depositary share) is payable on August 17, 2020 to holders of record at the close of business on August 3, 2020.

About Synchrony

Synchrony (NYSE: SYF) is a premier consumer financial services company. We deliver a wide range of specialized financing programs, as well as innovative consumer banking products, across key industries including digital, retail, home, auto, travel, health and pet. Synchrony enables our partners to grow sales and loyalty with consumers. We are one of the largest issuers of private label credit cards in the United States; we also offer co-branded products, installment loans and consumer financing products for small- and medium-sized businesses, as well as healthcare providers.

Synchrony is changing what's possible through our digital capabilities, deep industry expertise, actionable data insights, frictionless customer experience and customized financing solutions.

For more information, visit www.synchrony.com and Twitter: @Synchrony.

Contacts

Investor Relations:                                                        
Greg Ketron            
(203) 585-6291      
Jennifer Church                                                            
(203) 585-6508                                                        
InvestorRelations@syf.com

Media Relations:
Sue Bishop      
(203) 585-2802     
susan.bishopmangino@syf.com

 

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SOURCE Synchrony Financial

FAQ

What is the dividend amount declared by Synchrony Financial on July 22, 2020?

On July 22, 2020, Synchrony Financial declared a dividend of $0.22 per share of common stock.

When will Synchrony Financial's dividend be paid?

The dividend of $0.22 per share will be paid on August 13, 2020.

What is the payment date for the Series A Preferred Stock dividend?

The dividend for the Series A Preferred Stock is payable on August 17, 2020.

What is the significance of the dividend announcement for SYF shareholders?

The dividend announcement indicates Synchrony's commitment to returning value to shareholders, which may enhance investor confidence.