Discover Financial (DFS) Raises Quarterly Dividend 20% to $0.24; Approves New $3.2B Buyback Plan

Discover Financial Services (NYSE: DFS) declared a quarterly dividend of $0.24 per share, or $0.96 annualized. This is a 20% increase from the prior dividend of $0.20.

The dividend will be payable on May 22, 2014, to stockholders of record on May 8, 2014, with an ex-dividend date of May 6, 2014.

The annual yield on the dividend is 1.7 percent.

The company also announced that its Board of Directors has approved a new $3.2 billion share repurchase program. The new share repurchase program expires on April 15, 2016, and may be terminated at any time. It replaces the prior $2.4 billion share repurchase program. The company expects to make share repurchases from time to time subject to the company’s capital plan, market conditions and other factors, including legal and regulatory restrictions and required approvals.

For a dividend history and other dividend-related data on Discover Financial Services (DFS) click here.

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