STAMFORD, Conn., January 26, 2021 / PRNewswire / – Synchrony Financial (NYSE: SYF) today announced that its board of directors has approved a share buyback program of up to $ 1.6 billion, starting this quarter with December 31, 2021. The Company intends to repurchase shares from time to time subject to the limitation of the Company’s repurchase program, its capital plan, market conditions and other factors, including regulatory restrictions and required approvals, where applicable.
The board of directors also declared a quarterly cash dividend of $ 0.22 per common share, payable on February 16, 2021 to holders registered at the close of business on February 5, 2021.
In addition, the Board of Directors has declared a quarterly cash dividend on the outstanding shares of its 5.625% Fixed Rate Non-Cumulative Perpetual Preferred Shares, Series A (the “Series A Preferred Shares”). Each outstanding share of the Series A preferred shares is represented by custodian shares, each representing a 1/40 interest in one Series A preferred share. The dividend of approximately $ 14.06 per share (equivalent to $ 0.351563 per outstanding depositary share) is payable on February 16, 2021 to holders registered at the close of business on February 5, 2021.
Synchrony (NYSE: SYF) is a leading consumer financial services company. We offer a wide range of specialized financing programs, as well as innovative consumer banking products, in key industries such as digital, retail, home, automotive, travel, health and animals. of company. Synchrony enables our partners to increase sales and retain consumers. We are one of the largest private label credit card issuers in United States; we also offer co-branded products, installment loans, and consumer finance products for small and medium-sized businesses, as well as healthcare providers.
Synchronization is changing what’s possible thanks to our digital capabilities, deep industry expertise, actionable data, seamless customer experience, and personalized financing solutions.
For more information visit www.synchrony.com and Twitter: @Synchrony.