Company Announces Quarterly Common Stock Dividend of $0.30 Per Share and Plans to Increase Quarterly Common Stock Dividend to $0.34 Per Share

Company also Announces Approval of a $6.5 Billion Share Repurchase Program

STAMFORD, Conn., April 21, 2026 /PRNewswire/ -- Synchrony Financial (NYSE:SYF) today announced its first quarter 2026 results for the period ending March 31, 2026. The earnings news release and presentation can be found on the company's Investor Relations website at https://investors.synchrony.com/financial-information/financial-results.

Today at 8:00 a.m. Eastern Time, Brian Doubles, President and Chief Executive Officer, and Brian Wenzel Sr., Executive Vice President and Chief Financial Officer, will host a conference call to review the financial results and outlook for certain business drivers. The conference call can be accessed via an audio webcast through the investor relations website at www.investors.synchrony.com, under Events and Presentations. A replay will also be available on the website.

The Company also announced that its Board of Directors (the "Board") declared a quarterly cash dividend of $0.30 per share of common stock. The dividend is payable on May 15, 2026 to holders of record at the close of business on May 5, 2026. The Board 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") and 8.250% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B (the "Series B Preferred Stock"). Each outstanding share of the Series A Preferred Stock and Series B Preferred Stock is represented by depositary shares, each representing a 1/40th interest in a share. The dividends of approximately $14.06 per share on the Series A Preferred Stock (equivalent to $0.351563 per outstanding depositary share) and approximately $20.63 per share on the Series B Preferred Stock (equivalent to $0.515625 per outstanding depositary share) are payable on May 15, 2026 to holders of record at the close of business on May 5, 2026.

Additionally, the Company announced that the Board plans to increase the quarterly cash dividend from $0.30 to $0.34 per share of common stock beginning in third quarter 2026.

Last, the Company announced that the Board approved a new share repurchase program of up to $6.5 billion of the Company's common stock, which commences in the second quarter of 2026 and, in a change from the Company's prior share repurchase programs, does not have an expiration date. The new share repurchase program replaces the Company's prior program, which was scheduled to expire on June 30, 2026 and had approximately $300 million remaining.

The pace and amount of share repurchases are flexible. Repurchases under the program will be executed from time to time subject to various factors, including capital levels, financial performance, market conditions and legal and regulatory requirements, and in accordance with our capital plans. The Company's share repurchase program may be executed through open market purchases or privately negotiated transactions, including through Rule 10b5-1 plans, and may be modified, suspended or terminated at any time.

About Synchrony

Synchrony (NYSE: SYF) is a leading consumer financing company that has been at the heart of American commerce and opportunity for nearly a century. Synchrony delivers credit and banking products that empower tens of millions of consumers to improve their financial lives and access what matters most. Leveraging innovative solutions that are shaping the future of retail commerce, Synchrony supports the growth and success of some of the nation's most respected brands, alongside hundreds of thousands of small and midsize businesses, including health and wellness providers. Committed to excellence in service and culture, Synchrony is honored to be ranked the #1 Best Company to Work For® in the U.S. by Fortune magazine and Great Place to Work®. For more information, visit www.synchrony.com.

Contacts

Investor Relations:

Kathryn Miller

(203) 585-6291

Kathryn.miller@syf.com

Media Relations:

Ashley Tufts

(203) 216-6277

ashley.tufts2@syf.com

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SOURCE Synchrony

Synchrony Reports First Quarter 2026 Results