Synovus Keeps Dividend Steady at a Penny

Bank has made quarterly payouts since 2009, but cut dividend during financial crisis.

By Rich Duprey – Jun 5, 2013 at 2:24PM EST

Southeastern regional bank Synovus Financial (SNV +0.00%) announced this morning its second-quarter dividend of $0.01 per share, the same rate it's paid since 2009.

The board of directors said the quarterly dividend is payable on July 1 to the holders of record at the close of business on June 20. The bank has made quarterly cash payouts since 2002, which had been rising annually until the financial crisis hit, causing Synovus to initiate a series of dividend cuts.

The regular dividend payment equates to a $0.04-per-share annual dividend, yielding 1.5% based on the closing price of Synovus Financial's stock on June 4.

SNV Dividend data by YCharts.

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Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time. Having made the streets safe for Truth, Justice, and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. His coverage reflects his passion for motorcycles, booze, and guns (though not enjoyed all at the same time...usually), but his writing also covers the broader sectors of consumer goods, technology, and industrials. So follow along as he tries to break down complex topics to make them more understandable and useful to the average investor. Have a story idea? Contact Rich here. I may not be able to respond to every suggestion, but I do read them all! Does an article needs a correction? Reach Rich here.

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Synovus Keeps Dividend Steady at a Penny

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