Synchrony Financial Launches $2.9 Billion Share Buyback Program; Will Maintain Dividend

Retail store credit card services specialist Synchrony Financial (NYSE: SYF) announced a pair of shareholder-remuneration moves on Tuesday. The company said it was launching a new stock repurchase program, and it set its current dividend policy.

As for the former, Synchrony's board of directors has authorized it to buy up to $2.9 billion worth of its stock. That program stretches back retroactively to this past April 1, and will be in force through June 30, 2022. It supersedes a previous buyback initiative that was announced in January.

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Source Fool.com