April 25, 2023

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Synchrony Financial, a consumer financial services company, has recently announced an incremental share repurchase program of up to $1.0 billion. The program will commence this quarter through June 30, 2024. This move demonstrates the company's commitment to maximizing shareholder value and indicates its confidence in the future growth prospects of the business.

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Share Repurchase Program

Synchrony Financial had approximately $300 million remaining under its prior share repurchase program as of March 31, 2023. With the approval of the new program, the total amount of share repurchase authorization will be approximately $1.3 billion through June 30, 2024. The company expects to make share repurchases from time to time subject to market conditions and other factors, including legal and regulatory restrictions and required approvals.

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Dividend Increase

In addition to the share repurchase program, Synchrony Financial has also announced its intention to increase the quarterly cash dividend from $0.23 to $0.25 per share of common stock. The dividend increase will commence in the third quarter of 2023. The increase in the dividend payout demonstrates the company's commitment to returning value to its shareholders.

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Members of LevelFields received the alert of this event on April 25, 4:55 PM ET

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