Synovus Financial Announces 20% Increase In Dividend - Quick Facts

(RTTNews) - Synovus Financial Corp. (SNV) announced plans to return approximately $500 million to common shareholders in the current year through a 20% dividend increase and additional share repurchases.

Kessel Stelling, Synovus CEO, stated: "From completion of the single-brand transition, to the announcement and successful closing of the FCB acquisition, to surpassing all of our profitability and efficiency targets, we delivered outstanding operating and financial performance last year. These results will provide the opportunity to accelerate capital returns to shareholders in 2019 through a 20 percent increase in the common stock dividend and more than $300 million in additional share repurchases."

For the fourth quarter 2018, adjusted earnings per diluted share was $0.92, up 28.1% from prior year. Adjusted total revenues were $368.2 million, up 8.5% from last year.