Discover Financial Services Hikes Dividends

By Jing Pan, B.Sc., MA | July 15, 2016

Credit card debt can be a burden, but owning a credit card company’s stock can be quite rewarding.

On Thursday, Discover Financial Services’ (NYSE:DFS) board of directors approved a quarterly dividend of $0.30 per share. This represents a seven percent increase from its current quarterly payout of $0.28 per share. The new dividend is payable on August 18, 2016 to shareholders of record as of August 4. (Source: “Discover Financial Services Declares Quarterly Dividend for Preferred and Common Stock,” Discover Financial Services, July 14, 2016.)

After the increase, DFS stock has an annual dividend yield of 2.1%. The company also announced a new $2.5-billion share repurchase program. The new program will expire on October 31, 2017 and will replace the prior five-quarter, $2.2-billion program.

5 Dividend Stocks to Own Forever

We hate spam as much as you do. Check out our privacy policy. This is an entirely free service. No credit card required. You can opt-out at anytime.

© Copyright 2021: Income Investors. All rights reserved. No part of this document may be used or reproduced in any manner or means, including print, electronic, mechanical, or by any information storage and retrieval system whatsoever, without written permission from the copyright holder.

Dear Reader: There is no magic formula to getting rich. Success in investment vehicles with the best prospects for price appreciation can only be achieved through proper and rigorous research and analysis. We are 100% independent in that we are not affiliated with any bank or brokerage house. Information contained herein, while believed to be correct, is not guaranteed as accurate. Warning: Investing often involves high risks and you can lose a lot of money. Please do not invest with money you cannot afford to lose. The opinions in this content are just that, opinions of the authors. We are a publishing company and the opinions, comments, stories, reports, advertisements and articles we publish are for informational and educational purposes only; nothing herein should be considered personalized investment advice. Before you make any investment, check with your investment professional (advisor). We urge our readers to review the financial statements and prospectus of any company they are interested in. We are not responsible for any damages or losses arising from the use of any information herein. Past performance is not a guarantee of future results. All registered trademarks are the property of their respective owners

Please wait...

Discover Financial Services Hikes Dividends

Related Topics

Sign up to receive our FREE Income Investors newsletter along with our special offers and get our FREE report:

5 Dividend Stocks to Own Forever

Sign up to receive our FREE Income Investors newsletter along with our special offers and get our FREE report:

5 Dividend Stocks to Own Forever