Synovus Financial hikes dividend by 3%

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Synovus Financial Corporation (SNV) will raise its quarterly dividend by 3 percent to 34 cents per share in 2022. This follows a dividend hike of 10 percent to $0.33 per share in 2020.

The next SNV dividend of $0.34 per share on the company’s common stock is payable on April 1, 2022, to shareholders of record as of March 17, 2022. A new annual rate of $1.36 per share yields 2.8% at a stock price of $48 for Synovus Financial. The company will now pay an estimated $198 million in dividends to shareholders annually.

Synovus Financial Corp. is a financial services company. Through its whollyowned subsidiary, Synovus Bank, the company provides commercial and retail banking services, including private banking, treasury management, wealth management, premium finance, and international banking. Synovus also provides mortgage services, financial planning, and investment advisory services through its wholly owned subsidiaries, Synovus Mortgage, Synovus Trust, and Synovus Securities, as well as its Global One, GLOBALT, and Creative Financial Group divisions. Synovus Financial is based in Columbus, Georgia.

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