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 15, 1999
(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)
Item 5. Other Events.
On March 15, 1999, Synovus Financial Corp. ("Registrant") announced a 22.8%
increase in the quarterly cash dividend of Registrant common stock. The
quarterly cash dividend will be increased to $0.09 from $0.0733, payable on
April 1, 1999, to shareholders of record as of March 25, 1999.
A copy of Registrant's press release regarding the announcement referenced
above is attached hereto as Exhibit 99.1, and by this reference is hereby
incorporated by reference into this Form 8-K and 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
99.1 - Registrant's press release, March 15, 1999
2
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 17, 1999 By:/s/ Kathleen Moates
---------------------- ---------------------------
Kathleen Moates
Deputy General Counsel
4
Exhibit Index
Exhibit Number Description
99.1 Registrant's
press release
dated March 15, 1999
5
[LOGO](R) NEWS RELEASE
SYNOVUS(R)
Financial Corp.
For Immediate Release
Contact: Patrick A. Reynolds
Director of Investor Relations
(706) 649-4973
SYNOVUS FINANCIAL CORP. ANNOUNCES 22.8% INCREASE
IN QUARTERLY DIVIDEND
Columbus, GA, March 15, 1999 - Today, Synovus Financial Corp. (NYSE - SNV),
the Columbus, Georgia, based multi-financial services company, announced a 22.8%
increase in the quarterly cash dividend of Synovus common stock. The quarterly
cash dividend will be increased to $0.09 from $0.0733, payable on April 1, 1999,
to shareholders of record as of March 25, 1999.
Commenting on the increase, James H. Blanchard, Chairman of the Board and
CEO, stated, We are proud to increase our cash dividend for the 23rd consecutive
year. This increase reflects the Board of Directors confidence in our future and
our commitment to maximize the total return of our common stock to our
shareholders. The cash dividend paid to shareholders has increased at an annual
compound growth rate of 22.6% for the last five years and 17.8% for the past ten
years.
Synovus Financial Corp. (Syn o vus) is a $10.5 billion asset,
multi-financial services company composed of 36 banks serving communities
throughout Georgia, Alabama, Florida and South Carolina; an 80.8% ownership of
Total System Services, Inc. (NYSE - TSS) (www.totalsystem.com), one of the
worlds largest credit, debit, commercial 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.
Synovus Financial Corp. is a component of the Standard and Poors 500 index and
has been named the Best Company to Work for in America by FORTUNE magazine. 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.
Synovus' Internet address is www.synovus.com.
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Post Office Box 120 / Columbus, GA 31902
http://www.snv.com
