The new dividend rate translates to an annual payout of $1.36 per share. Based on Monday’s closing price of $73.41, the move increases the company’s annual yield to approximately 1.85 percent, up from the previous 1.63 percent. Shareholders of record as of August 5 will receive the increased payment on August 17.
Synchrony Financial Boosts Dividend Payout by 13 Percent
Stamford-based Synchrony Financial is lifting its quarterly dividend by 13 percent, moving the payout from 30 cents to 34 cents per share. This adjustment, confirmed by the company on Tuesday, fulfills a commitment the consumer-financing firm made earlier this spring to return more capital to its investors before year-end.
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