Synchrony Financial Boosts Dividend 13.3% to $0.34

Synchrony Financial raised its quarterly dividend 13.3% to $0.34 a share, the company said. The previous payout was $0.30.

The new dividend implies a forward yield of about 1.85% based on Friday's close. The payment goes out Aug. 17 to shareholders of record Aug. 5. The ex-dividend date is also Aug. 5.

Synchrony runs the private-label credit card programs for retailers like Amazon and Walmart. The dividend hike comes after the company reported second-quarter earnings last month that beat analyst estimates on both revenue and profit.

AlphaScala rates the stock Mixed at 52 out of 100. The score sits in the middle of the Financial Services sector, reflecting a balance of valuation and momentum signals. SYF stock page