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Synchrony Financial board approves dividend, buyback program

Synchrony Financial'sboard has approved a quarterly cash dividend of 13 cents per common share and ashare repurchase program of up to $952 million for the four quarters ending June30, 2017.

The dividend will be payable Aug. 25 to holders of record atthe close of business Aug. 12.

Synchrony Financial executives in January the company's capital return plans, which are its firstsince fully separatingfrom General Electric Co.in October 2015.