Discover Financial Services (DFS) Raises Quarterly Dividend 7.1% to $0.30; New $2.5B Buyback Plan Approved

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Go back to Discover Financial Services (DFS) Raises Quarterly Dividend 7.1% to $0.30; New $2.5B Buyback Plan Approved

Discover Financial Services Declares Quarterly Dividend for Preferred and Common Stock

July 14, 2016 4:41 PM EDT

RIVERWOODS, Ill.--(BUSINESS WIRE)-- Discover Financial Services (NYSE: DFS) announced today that its Board of Directors has approved a new $2.5 billion share repurchase program and increased the quarterly common stock dividend from $0.28 to $0.30 per share. The new share repurchase program expires on October 31, 2017, and may be terminated at any time. This is a five quarter share repurchase program and replaces the prior five-quarter, $2.2 billion program. The company expects to make share repurchases from time to time subject to the companys capital... More