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Stock Market & Financial Investment News

News Breaks
March 14, 2013
17:26 EDTDFSDiscover receives no objection to capital plan, approves $2.4B buy back program
Discover announced that its board has approved a new share repurchase program authorizing the company to repurchase up to $2.4B of its common stock, and that it plans to increase its quarterly common stock dividend. These actions were part of the company's capital plan, which was submitted to the Federal Reserve as part of the 2013 Capital Plan Review. The Federal Reserve notified Discover that it has no objections to the capital actions through March 31, 2014, set forth in the company's capital plan. It replaces the prior $2B share repurchase program, which had approximately $600M of remaining authorization as of March 14. Any share repurchases after March 31, 2014, would be subject to receiving Federal Reserve non-objection to the company's 2014 capital plan. The company's capital plan includes an increase in the quarterly dividend from 14c-20c per share of common stock in Q2.
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August 30, 2014
09:25 EDTDFSDiscover still looks attractive, Barron's says
Discover shares have climbed 20% since November and should continue higher with an increase in interest rates, Barron's contends in a follow up article. The stock could provide a double-digit return over the next year, especially if rates rise in 2015, the paper adds. Reference Link

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