Discover Financial Services Declares Quarterly Dividend for Preferred and Common Stock
October 19 2017 - 5:13PM
Business Wire
The Board of Directors of Discover Financial Services declared a
quarterly cash dividend on its Fixed Rate Non-Cumulative Perpetual
Preferred Stock, Series B, in the amount of $16.25 per share. The
dividend equals $0.40625 per depositary share, each representing
1/40th interest in a share of the Series B Preferred Stock. The
dividend will be payable on December 1, 2017, to the holders of
record at the close of business on November 14, 2017.
The Board of Directors also declared a quarterly cash dividend
of $0.35 per share of common stock payable on December 7, 2017, to
holders of record at the close of business on November 22,
2017.
About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and
payment services company with one of the most recognized brands in
U.S. financial services. Since its inception in 1986, the company
has become one of the largest card issuers in the United States.
The company issues the Discover card, America's cash rewards
pioneer, and offers private student loans, personal loans, home
equity loans, checking and savings accounts and certificates of
deposit through its direct banking business. It operates the
Discover Network, with millions of merchant and cash access
locations; PULSE, one of the nation's leading ATM/debit networks;
and Diners Club International, a global payments network with
acceptance in more than 185 countries and territories. For more
information, visit www.discover.com/company.
This press release contains forward-looking statements. You are
cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date on which they are made,
which reflect management’s estimates, projections, expectations or
beliefs at that time, and which are subject to significant risks
and uncertainties that may cause actual results to differ
materially. The amount and timing of any future dividends are
subject to the discretion of the company’s board of directors and
will depend upon the company’s results of operations, financial
condition, cash requirements, future prospects, market conditions,
capital requirements, applicable law and regulations (including
federal securities laws and federal banking regulations) and other
factors, and may be subject to regulatory approval or conditions.
Additional factors impacting dividends can be found in "Business -
Supervision and Regulation", “Risk Factors” and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" in the company's annual report on Form 10-K for the
year ended December 31, 2016, and under “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” in the company’s Quarterly Report on Form 10-Q for the
quarters ended June 30, 2017, and March 31, 2017, which are
filed with the SEC and available at
the SEC's website (www.sec.gov). The Company does not
undertake to update or revise forward-looking statements as more
information becomes available.
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version on businesswire.com: http://www.businesswire.com/news/home/20171019006589/en/
Discover Financial ServicesInvestor
Contact:Craig StreemInvestor
Relations224-405-5923craigstreem@discover.comorMedia Contact:Jon DrummondPublic
Relations224-405-1888jondrummond@discover.com
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