Synchrony Announces Quarterly Common Stock Dividend of $0.23 Per Share

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.

Rhea-AI Summary

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.

Positive

• Quarterly cash dividend of $0.23 per share enhances shareholder returns.
• Confidence in financial stability demonstrated by preferred stock dividend announcement.

Negative

• None.

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News Market Reaction – SYF

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Company also declares preferred stock dividend

STAMFORD, Conn., April 20, 2023 /PRNewswire/ -- Synchrony Financial (NYSE: SYF) announced today that its Board of Directors declared a quarterly cash dividend of $0.23 per share of common stock, payable on May 12, 2023 to holders of record at the close of business on May 2, 2023.

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 May 15, 2023 to holders of record at the close of business on May 2, 2023.

About Synchrony

Synchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry's most complete digitally-enabled product suites. Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, powersports, pet and more. We have an established and diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers, which we refer to as our "partners."  We connect our partners and consumers through our dynamic financial ecosystem and provide them with a diverse set of financing solutions and innovative digital capabilities to address their specific needs and deliver seamless, omnichannel experiences.  We offer the right financing products to the right customers in their channel of choice. For more information, visit www.synchrony.com and Twitter: @Synchrony.

Contacts

Investor Relations:
Kathryn Miller
Synchrony
InvestorRelations@syf.com
(203) 585-6291

Media Relations:
Lisa Lanspery
Synchrony
lisa.lanspery@syf.com
203-585-6143

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SOURCE Synchrony

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the upcoming dividend amount for SYF shareholders?

The upcoming cash dividend for SYF shareholders is $0.23 per share.

When will Synchrony Financial's dividend be paid?

The dividend will be paid on May 12, 2023, for common stock and May 15, 2023, for preferred stock.

What is the record date for the upcoming SYF dividend?

The record date for the upcoming dividend is May 2, 2023.

How much is the preferred stock dividend for Synchrony Financial?

The preferred stock dividend is approximately $14.06 per share.