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Synovus Financial Q4 Profit Rises; Announces 10% Increase In Dividend

Synovus Financial Corp. (SNV) reported fourth-quarter adjusted earnings per share of $0.94, up 3.1 percent year-over-year. On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.97, for the quarter. Analysts' estimates typically exclude special items. Diluted earnings per share was $0.97, for the quarter.

Fourth-quarter net interest income rose 34 percent year-on-year to $399.27 million. Non-interest income was $98.0 million, an increase of $30.0 million from the prior-year quarter. Analysts expected revenue of $484.41 million, for the quarter.

The Board of Directors also approved a 10% increase in the quarterly common stock dividend from $0.30 to $0.33 per share, effective with the quarterly dividend payable in April 2020.

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