Welcome to our dedicated page for Synchrony Financial news (Ticker: SYF), a resource for investors and traders seeking the latest updates and insights on Synchrony Financial stock.
Synchrony Financial (NYSE: SYF) is a consumer financing and consumer financial services company that regularly issues news about its credit programs, partnerships, capital actions and financial performance. This news page aggregates updates that reflect how Synchrony’s financing products and banking offerings are used across sectors such as retail, digital commerce, home, auto, health, wellness, travel and pet care.
Company announcements often highlight developments in CareCredit, Synchrony’s health and wellness credit card. Recent news includes the expansion of CareCredit’s integration with Clover devices from Fiserv, enabling health and wellness providers using Clover to accept CareCredit payments and process applications at the point of sale. Synchrony also reports on its extended partnership with the American Med Spa Association, under which CareCredit remains the exclusive financing solution for AmSpa members, with preferred merchant rates for qualifying transactions.
Beyond health and wellness, Synchrony issues releases on partnerships in home and equipment financing, such as its renewed residential consumer financing relationship with Mitsubishi Electric Trane HVAC US LLC (METUS) and the launch of The Toro Company credit card program for Toro, Exmark, Spartan and Z Turf Equipment dealers. These updates describe how Synchrony’s customizable, promotional financing options and digital application tools support contractors, dealers and their customers.
Investors and analysts can also find news about Synchrony’s quarterly earnings announcements, conference participation, dividends and share repurchase authorizations. The company uses press releases to announce earnings release dates, report results, describe changes to capital return plans and provide context on its role as a consumer financing company at the heart of American commerce and opportunity. This page offers a centralized view of these developments for users tracking SYF-related news.
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Venmo has launched its first-ever Credit Card, issued by Synchrony (SYF) and backed by Visa, facilitating automatic cash back on every eligible purchase. The card allows users to earn up to 3% cash back in top spending categories and integrates seamlessly with the Venmo app for easy management. Key features include personalized rewards, real-time spending tracking, custom designs, virtual card access, and enhanced security measures like RFID technology. No annual fees apply, and cash back rewards have no expiration, enhancing user benefits.
On Sept. 29, 2020, Synchrony announced advancements in digital payment solutions amid rising consumer demand for contactless commerce due to the pandemic. Key developments include the launch of 'Direct to Device', facilitating contactless transactions and digital credit applications, with approximately 70% of credit applications completed digitally in Q2 2020. Synchrony ensures seamless experiences by providing tools for partners and consumers, enhancing engagement across various channels. The overall usage of contactless payments surged 150% since March 2019, illustrating a significant shift in consumer behavior.
Synchrony (SYF) will announce its Q3 2020 financial results on October 20, 2020, at approximately 6:30 a.m. ET. The earnings release and presentation materials will be available on the Investor Relations section of its website. A conference call to discuss the results is scheduled for 8:30 a.m. ET on the same day. Synchrony is a leading provider of consumer financial services, including private label credit cards and innovative banking products across various industries.
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Synchrony (NYSE: SYF) announces participation in the Barclays Global Financial Services Conference on September 14, 2020, at 9:45 a.m. (ET). CEO Margaret M. Keane and CFO Brian J. Wenzel will discuss company trends and business drivers during this virtual event. A live webcast and replay will be accessible on the Investor Relations website. Synchrony is a leading consumer financial services company, specializing in private label credit cards and consumer financing solutions.
Synchrony (NYSE: SYF) has been ranked #8 on PEOPLE Magazine's 50 Companies That Care list for 2020, leading the financial services sector. This recognition highlights Synchrony's commitment to supporting employees, communities, and the environment during the COVID-19 pandemic. The company has implemented several initiatives, including mental health support, a virtual summer camp, and significant donations to help those affected by the crisis. Synchrony's efforts also include a commitment of $10 million to aid communities and small businesses impacted by COVID-19.
Harbor Freight Tools has launched a new credit card in partnership with Synchrony (NYSE: SYF) to enhance customer value. The card offers a 10% discount on the first purchase and 5% back on future purchases, or a 0% interest financing option for purchases over $299. Customers can apply at any of Harbor Freight's 1,085 stores or online, with credit decisions made in minutes. The new offering aims to provide payment flexibility and rewards for loyal customers, promoting sales growth in the retail sector.
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.
Synchrony (NYSE: SYF) has announced the election of P.W. "Bill" Parker to its board of directors, effective immediately. Parker, 63, brings extensive experience from U.S. Bancorp, where he served for 34 years, significantly during the 2008 financial crisis. His expertise in risk management and credit policy is expected to enhance Synchrony's strategic direction. CEO Margaret Keane praised Parker's leadership in risk management. With this appointment, Synchrony continues to emphasize diversity within its board, which now consists of twelve members.