Discover Declares a Pair of Dividends

Discover Financial Services continues to unearth dividends for its stockholders, declaring quarterly distributions for both its common and series B preferred stock. Investors in the former will receive $0.20 per share, to be paid on August 2 to holders of record as of August 8.

The series B preferred dividend will be $16.25. This equates to $0.40625 per depositary share, as such securities represent 1/40th interest in a single share of series B preferred. That amount will be handed out on September 3 to holders of record as of August 16.

The just-declared common stock dividend matches the company's previous payout, and annualizes to $0.80 per share. That yields 1.6% at Discover's most recent closing stock price of $50.20.

The article Discover Declares a Pair of Dividends originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in Discover Financial Services. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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