Discover Financial Services Declares Quarterly Dividend for Preferred and Common Stock

RIVERWOODS, Ill.--(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 September 1, 2015, to the holders of record at the close of business on August 17, 2015.

The Board of Directors also declared a quarterly cash dividend of $0.28 per share of common stock payable on August 20, 2015, to holders of record at the close of business on August 6, 2015.

About Discover

Discover Financial Services 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, certificates of deposit and money market accounts 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.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150716006508/en/