Discover Financial Services (DFS) Thursday said, following the no-objection ruling from the Federal Reserve, it has received authorization from its board of directors to repurchase up to $2.4 billion shares.
The new share repurchase program expires on March 31, 2015, and replaces the prior $2 billion share repurchase program, which had approximately $600 million of remaining authorization as of March 14.
The company also said it is seeking approval from the board for increasing second-quarter quarterly dividend to $0.20 per share from $0.14 per share.
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