Synovus Financial (NYSE:SNV) has elected to stick to its existing dividend policy for now. The company declared a quarterly common stock dividend of $0.01 per share, to be distributed on Oct. 1 to shareholders of record as of Sept. 19. That amount matches all of the financial services company's preceding payouts stretching back to April 2009. Before that, Synovus dispensed $0.06 per share.
The just-declared dividend annualizes to $0.04 per share. That yields 1.3% at Synovus' most recent closing stock price of $3.20.
Editor's note: A previous version of this article contained incorrect information on the company's dividend history.
Fool contributor Eric Volkman has no position in Synovus Financial. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.