Key Developments: Discover Financial Services (DFS)
47.68USD
24 May 2013
$0.04 (+0.08%)
$47.64
$47.28
$47.88
$47.09
2,421,428
4,931,061
$49.71
$30.48
Latest Key Developments (Source: Significant Developments)
Discover Financial Services Declares Quarterly Dividend for Preferred and Common Stock
Discover Financial Services announced that it declared a quarterly cash dividend on its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B, in the amount of $16.25 per share. The dividend equals $0.40625 per depositary share, each representing 1/40th interest in a share of the Series B Preferred Stock. The dividend will be payable on June 3, 2013, to the holders of record at the close of business on May 17, 2013. The Board of Directors also declared a quarterly cash dividend of $0.20 per share of common stock, an increase of $0.06 per share of common stock, payable on May 23, 2013, to holders of record at the close of business on May 9, 2013. Full Article
Discover Financial Services Announces International Alliance With Nigeria’s Interswitch Limited
Discover Financial Services and Interswitch Limited announced a strategic alliance that will allow acceptance of Discover and Diners Club International (DCI) cards at Interswitch-enabled ATM and point-of-sale (POS) terminals for purchases in Nigeria. It will also allow Verve cardholders to have access to Discover, Diners Club International and PULSE networks for international purchases and cash access outside of Nigeria. The long-term agreement, which will be implemented in phases, will focus first on enabling about 20 million Verve cards on the PULSE global ATM network, followed by acceptance opportunities for Discover and Diners Club cards in Nigeria, and then the acceptance of Verve cards across the Discover global network. The Discover global network, which includes Diners Club, PULSE and other partner networks, provides acceptance in more than 185 countries and territories. Discover and Interswitch also will collaborate on the integration of Discover DPAS EMV solutions and fraud monitoring solutions to ensure safe transactions across both networks. Full Article
Discover Financial Services Declares Preferred Stock Dividend
Discover Financial Services announced that it has declared a quarterly cash dividend on its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B, in the amount of $16.25 per share. The dividend equals $0.40625 per depositary share, each representing 1/40th interest in a share of the Series B Preferred Stock. The dividend will be payable on March 1, 2013, to the holders of record at the close of business on Feb. 14, 2013. Full Article
Discover Financial Services Expands Strategic Relationship With WorldPay
Discover Financial Services announced that WorldPay US, payments acquirer, have teamed to enable WorldPay's customers to accept PayPal In-Store Checkout at the brick-and-mortar locations of participating merchants. WorldPay's customers will be among the first US businesses able to accept PayPal's new mag-striped card that extends the speed, simplicity and security of the digital wallet already enjoyed by 50+ million active PayPal customers online to the face-to-face payment transaction. Full Article
Discover Financial Services Declares Dividend
Discover Financial Services announced that the company`s board declared a cash dividend of $0.14 per share of common stock, payable on January 17, 2013, to stockholders of record at the close of business on January 3, 2013. Full Article
Discover Financial Services Declares Preferred Stock Dividend
Discover Financial Services announced the declaration of a quarterly cash dividend on its outstanding Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B, in the amount of $8.13 per share, which covers the period from October 16 through November 30, 2012. The dividend equals $0.20325 per depositary share, representing a 1/40th interest in a share of the preferred stock. The dividend has a payment date of December 1, 2012, and will be paid on December 3, 2012 (the next business day), to the holders of record at the close of business on November 15, 2012. Full Article
Discover Financial Services Declares Quarterly Dividend
Discover Financial Services announced that it declared a quarterly dividend of $0.10 per share of common stock, payable on October 18, 2012, to stockholders of record on October 4, 2012. Full Article
Discover Financial Services Declares Quarterly Dividend
Discover Financial Services announced that it has declared a quarterly dividend of $0.10 per share of common stock, payable on July 19, 2012, to stockholders of record on July 5, 2012. Full Article
Tree.Com Inc Completes Sale Of Certain Assets Of Home Loan Center, Inc. To Discover Financial Services' Subsidiary
Tree.Com Inc announced that it has completed the sale of substantially all of the operating assets of its Home Loan Center, Inc. business to a wholly owned subsidiary of Discover Financial Services. In exchange for the assets sold, Discover paid an aggregate of $45.9 million including payments made prior to the closing which were applied to the closing price. A portion of such amount is being held in escrow pending the discharge of certain contingent liabilities not assumed by Discover related to loans previously sold to secondary market investors. An additional $10 million of purchase price will be due on the first anniversary of the closing. Full Article
Faruqi & Faruqi, LLP Announces Investigation Against Discover Financial Services on Behalf Of Shareholders
Faruqi & Faruqi, LLP, a New York securities firm, announced that it is investigating the Board of Directors and officers of Discover Financial Services ("Discover" or the "Company"). The investigation focuses on possible breaches of fiduciary duties by the Board of Directors and/or officers of the Company in connection with the improper marketing and implementation of payment protection products. Specifically, the investigation concerns monetary damages and reputational harm suffered by the Company due to its directors and/or officers: (1) causing the Company to engage in fraudulent and illegal marketing practices in connection with its payment protection programs; (2) failing to maintain adequate internal controls over the Company's marketing and sales of fee-based financial products, including payment protection programs; and (3) falsely certifying to regulators that the Company had adequate internal controls sufficient to oversee the Company's compliance with all applicable legal and regulatory requirements. In the Company's 2011 Annual 10-K, filed with the Securities and Exchange Commission on January 26, 2012, the Company disclosed that it had learned that the Federal Deposit Insurance Corporation ("FDIC") and the Consumer Financial Protection Bureau had notified it that they planned to bring a joint enforcement action against the Company in relation to Discover's marketing practices with respect to its fee-based products, including its payment protection products. Full Article
UPDATE 2-Customer spending, credit quality boost Discover results
* Revenue, net of interest expense, rises 10 pct to $2 bln
Earnings vs. 
Estimates
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