Synchrony Financial Stock Price, News & Analysis

Synchrony (NYSE: SYF) has released a study revealing that horse owners significantly underestimate the lifetime cost of horse care, estimated between $300,000 and $924,000. Although 83% of owners feel financially prepared, actual expenses may be three to four times higher than anticipated. For competitive horses, costs can reach $1,000,000, while recreational horses range from $295,000 to $400,000. Annual expenses are projected between $8,600 and $26,000, excluding events. Unexpected medical bills often trigger stress, with many owners willing to apply for dedicated veterinary finance options. The study emphasizes the importance of financial preparedness for horse ownership over a typical lifespan of 25 years.

Synchrony Financial (NYSE: SYF) announced an incremental share repurchase program of up to $1.0 billion starting this quarter through June 30, 2024. This new authorization increases the total share repurchase amount to approximately $1.3 billion following $300 million remaining under its prior plan as of March 31, 2023. Furthermore, the company intends to raise its quarterly cash dividend from $0.23 to $0.25 per share, effective in the third quarter of 2023. The share buyback will be executed based on market conditions and regulatory permissions.

Synchrony Financial (NYSE: SYF) has declared a quarterly cash dividend of $0.23 per share of common stock, payable on May 12, 2023, to shareholders of record by the close of business on May 2, 2023.

Additionally, the company announced a cash dividend of approximately $14.06 per share on its 5.625% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, which equates to $0.351563 per depositary share. This dividend will be payable on May 15, 2023, to holders of record as of May 2, 2023.

Synchrony (NYSE: SYF) has announced a multi-year partnership with LG Electronics USA to offer a financing program for homeowners looking to purchase advanced heating and cooling products. This initiative will provide LG's independent Pro Dealers with a private label credit card featuring competitive financing options such as deferred interest and fixed payments. Installers in the HVAC Pro Dealer program will gain access to reduced rates and promotional opportunities throughout the year. The new program aims to simplify the financing application process, making it easier for customers to make significant investments in HVAC systems. The card program is set to launch later this year, reflecting Synchrony's commitment to enhancing customer experience and dealer sales.

Synchrony Financial (NYSE: SYF) reported its first quarter 2023 results, ending March 31, 2023. Specific financial metrics and detailed results are available on the company's investor relations website. The press release highlights the company's ongoing commitment to providing digitally-enabled financial services, catering to a diverse spectrum of industries, including retail, healthcare, and telecommunications. A conference call is scheduled for April 19, 2023, to discuss the financial results and outlook, accessible via an audio webcast. Synchrony aims to enhance customer experiences through innovative financing solutions tailored to partner needs, promoting seamless omnichannel interactions.