Discover Financial Authorizes New $2 Bln Share Buy Back Plan, Declares Dividend

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3/13/2012 4:55 PM ET

Discover Financial Services (DFS: Quote) Tuesday said it approved a new share repurchase program to buy back up to $2 billion of common shares. The program expires on March 22, 2014, and may be terminated at any time.

This new share repurchase program replaces the prior $1 billion program that had $575 million of remaining authorization.

The company also declared a cash dividend of $0.10 per share, payable on April 19 to stockholders as of April 5.

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