Ally Financial (ALLY) Declares $0.08 Quarterly Dividend; Board Approves $700M Stock Buyback Program

Ally Financial (NYSE: ALLY) declared a quarterly dividend of $0.08 per share, or $0.32 annualized.

The dividend will be payable on August 15, 2016, to stockholders of record on August 1, 2016, with an ex-dividend date of July 28, 2016.

The annual yield on the dividend is 1.8 percent.

Additionally, the board authorized a common stock repurchase program of up to $700 million beginning in the third quarter of 2016 and continuing through the second quarter of 2017.

The quarterly cash dividend and common stock repurchase program were included in Ally's capital plan under the 2016 Comprehensive Capital Analysis and Review (CCAR), which received a non-objection from the Federal Reserve Board that was announced on June 29, 2016. Shares acquired under the common stock repurchase program will be used for general corporate purposes and may be available for resale, including in connection with the company's compensation and employee-benefit plans. The company may acquire shares from time to time through open market purchases or privately negotiated transactions, including through a Rule 10b5-1 plan, at the discretion of the company's management and on terms (including quantity, timing, and price) that the company's management determines to be necessary, appropriate, or advisable.

For a dividend history and other dividend-related data on Ally Financial (ALLY) click here.

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