Synchrony Financial Stock Price, News & Analysis

Synchrony (NYSE: SYF) CFO Brian J. Wenzel will join the Morgan Stanley US Financials, Payments & CRE Conference on June 13, 2022, at 8:45 a.m. ET. A live webcast will be accessible on the Synchrony Investor Relations website. Synchrony is a leading consumer financial services provider, offering a wide array of digital financing solutions across various industries. They emphasize connecting partners and consumers to deliver tailored financing options.

Synchrony (NYSE: SYF) and Sweetwater, a leading e-commerce provider of music instruments, announced an extension of their partnership to enhance Sweetwater's financing program. This collaboration focuses on utilizing Synchrony’s Direct to Device and PreQualification technologies to improve customer experience, allowing simplified credit applications and personalized offerings. The partnership aims to drive growth through data sharing and digital transformation in payment solutions, enhancing customer relationships and potentially increasing credit line acquisitions and repeat sales.

The Marshall Plan for Moms launched a report highlighting the significance of expanded child care benefits for employee recruitment and retention, especially for women. Key findings reveal that 69% of mothers would prefer employers offering child care support, while 83% consider it critical for job retention. The report also identifies alarming statistics: 80% of families find child care unaffordable and only 13% of toddlers access high-quality care. In response, the Coalition aims to develop equitable child care solutions, with participants including Archewell and Synchrony, focusing on improving workplace environments for working parents.

Made In Cookware, renowned for professional-quality cookware, has partnered with GiftNow, a solution by Synchrony (NYSE: SYF), to enhance gifting experiences in time for key occasions like Mother's Day. This collaboration allows customers to send personalized digital gifts, offering over 150 products to choose from. The partnership aims to streamline gifting while maintaining customer satisfaction. Made In Cookware has received over 60,000 five-star reviews, illustrating its popularity among home chefs. The initiative promises to strengthen e-commerce and customer engagement.

Pets Best Insurance Services, a leading U.S. pet insurance provider and a Synchrony solution, has reached a milestone of insuring its 500,000th pet. This achievement emphasizes its commitment to providing comprehensive and affordable animal healthcare across the nation. The company has seen growth driven by digital features, including a mobile app for easy account management and claims submission, which align with changing customer preferences. With the pet insurance industry surpassing $1.9 billion in premiums, Pets Best continues to leverage partnerships and technology to enhance customer experiences and expand market reach.

Synchrony has inaugurated the Synchrony Skills Academy in Stamford, CT, aimed at providing digital skills training and job placement support for underserved communities. The academy, featuring collaboration with the Governor's Workforce Council and local organizations, is a step toward enhancing inclusivity in tech employment. The event was attended by notable figures including Governor Ned Lamont and Margaret Keane, Synchrony's Executive Chair. This initiative emphasizes Synchrony's commitment to building a more inclusive job market.

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.