SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
March 10, 1997
(Earliest Event Reported)
Synovus Financial Corp.
(Exact Name of Registrant as
Specified in its Charter)
Georgia 1-10312 58-1134883
(State of (Commission File (IRS Employer
Incorporation) Number) Identification
Number)
901 Front Avenue, Suite 301, Columbus, Georgia 31901
(Address of principal executive offices)
(706) 649-2267
(Registrant's Telephone Number)
(Former name or former address, if changed since last report)
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Item 5. Other Events.
On March 10, 1997, Synovus Financial Corp. ("Registrant") announced a
three-for-two stock split to be issued on April 8, 1997 to shareholders of
record as of March 21, 1997. Registrant also announced a 22.7% increase in its
quarterly dividend. On a pre-split basis, the quarterly dividend will be
increased to $.1350 from $.11 and will be payable on April 1, 1997 to
shareholders of record as of March 21, 1997.
A copy of Registrant's press release regarding the announcement
referenced above is attached hereto as Exhibit 99, and by this reference made a
part hereof.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(a) Financial Statements - None.
(b) Pro Forma Financial Information - None.
(c) Exhibits
99 - Registrant's press release dated March 10, 1997
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Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, Registrant has caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SYNOVUS FINANCIAL CORP.
("Registrant")
Dated: March 10, 1997 By:/s/Kathleen Moates
Kathleen Moates
Senior Vice President
3
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Exhibit Index
Exhibit Number Description
99 Synovus Financial Corp.'s
press release
dated March 10, 1997
4
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[SYNOVUS](R)
---------------------------------------------------
NEWS RESLEASE
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For Immediate Release
Contact: Patrick A. Reynolds
Director of Investor Relations
(706) 649-5220
Synovus Financial Corp. Announces Three-For-Two Stock Split
and a 22.7% Increase in the Quarterly Dividend
Columbus, Ga., March 10, 1997 -- Today, Synovus Financial Corp. (NYSE -
"SNV"), the Columbus, Georgia, based multi-financial services company, announced
a three-for-two stock split and a 22.7% increase in the quarterly dividend of
Synovus common stock. On a pre-split basis, the quarterly dividend will be
increased to $.1350 from $.1100. The cash dividend will be payable on April 1,
1997, to shareholders of record as of March 21, 1997.
The three-for-two stock split will be issued on April 8, 1997, to
shareholders of record as of March 21, 1997. On a post-split basis, the new
quarterly dividend will be $.09 per share.
Commenting on the stock split and increased dividend, Synovus Financial
Corp. Chairman and CEO James H. Blanchard stated, "We are pleased to be able to
announce a three-for-two stock split for the second consecutive year and a 22.7%
dividend increase. The market has recognized Synovus as a unique, value-added
company that consistently performs at the highest levels in our industry,
handsomely rewarding our shareholders. This stock split and dividend increase is
indicative of our Board of Directors' confidence in our future."
Synovus Financial Corp. (Syn-o-vus) is an $8.6 billion asset,
multi-financial services company composed of 34 banks serving communities
throughout Georgia, Alabama, Florida and South Carolina; an 80.7% ownership of
Total System Services, Inc. (NYSE - "TSS"), one of the world's largest credit,
debit and private-label card processing companies; Synovus Trust Company, one of
the Southeast's largest providers of trust services; Synovus Securities, Inc., a
full-service brokerage firm; and Synovus Mortgage Corp. which offers mortgage
services throughout the Southeast. The name "Synovus" was created by the
combination of synergy and novus - synergy meaning the interaction of separate
components such that the total effect is greater than the sum of its parts and
novus (Latin for "new"), meaning usually of superior quality and different from
the others listed in the same category.
ENDIT
Post Office Box 120 / Columbus, GA 31902
http://www.snv.com
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