Synovus Financial Corp. (NYSE:SNV) Declares Quarterly Dividend of $0.39

Synovus Financial Corp. (NYSE:SNV) announced a quarterly dividend on Thursday, December 4th. Investors of record on Thursday, December 18th will be paid a dividend of 0.39 per share by the bank on Wednesday, December 24th. This represents a c) dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Thursday, December 18th.

Synovus Financial has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Synovus Financial has a payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Synovus Financial to earn $5.45 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 28.6%.

Synovus Financial Stock Performance

NYSE:SNV opened at $50.17 on Friday. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of 9.36, a price-to-earnings-growth ratio of 0.86 and a beta of 1.21. Synovus Financial has a 1-year low of $35.94 and a 1-year high of $61.06. The firm’s fifty day moving average price is $46.70 and its 200 day moving average price is $49.17. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.91 and a quick ratio of 0.91.

Synovus Financial (NYSE:SNV) last issued its quarterly earnings data on Wednesday, October 15th. The bank reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.10. Synovus Financial had a return on equity of 16.13% and a net margin of 21.97%.The firm had revenue of $612.79 million during the quarter, compared to the consensus estimate of $604.59 million. During the same period in the previous year, the firm posted $1.23 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, sell-side analysts expect that Synovus Financial will post 4.89 EPS for the current year.

About Synovus Financial

Synovus Financial Corp. operates as the bank holding company for Synovus Bank that provides commercial and consumer banking products and services. It operates through four segments: Community Banking, Wholesale Banking, Consumer Banking, and Financial Management Services. The company's commercial banking services include treasury and asset management, capital market, and institutional trust services, as well as commercial, financial, and real estate lending services.