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Discover Financial Services ups dividend, announces new share repurchase program

'board raised the quarterly common stock dividend to 30 cents per share from 28 cents per share.

The dividendis payable Aug. 18 to shareholders of record as of Aug. 4.

The company'sboard also approved a new $2.5 billion share repurchase program, which willexpire Oct. 31, 2017, and may be terminated at any time. It replaces theprevious $2.2 billion buyback program.