STAMFORD, Conn., April 24, 2020 /PRNewswire/ -- Synchrony Financial (NYSE:SYF) announced today that its Board of Directors declared a quarterly cash dividend of $0.22 per share of common stock, payable on May 14, 2020 to holders of record at the close of business on May 4, 2020.

The Board of Directors also declared a quarterly cash dividend on the outstanding shares of its 5.625% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (the "Series A Preferred Stock").  Each outstanding share of the Series A Preferred Stock is represented by depositary shares, each representing a 1/40th interest in a share of Series A Preferred Stock.  The dividend of approximately $14.06 per share (equivalent to $0.351563 per outstanding depositary share) is payable on May 15, 2020 to holders of record at the close of business on May 4, 2020.

Synchrony (NYSE:SYF) is a premier consumer financial services company. We deliver a wide range of specialized financing programs, as well as innovative consumer banking products, across key industries including digital, retail, home, auto, travel, health and pet. Synchrony enables our partners to grow sales and loyalty with consumers. We are one of the largest issuers of private label credit cards in the United States; we also offer co-branded products, installment loans and consumer financing products for small- and medium-sized businesses, as well as healthcare providers.