Discover Financial Services announced that its capital plan for the four quarters ending June 30, 2020 contemplates share repurchases of up to $1.63 billion during the four quarters ending June 30, 2020 and an increase in the company’s quarterly dividend from $0.40 to $0.44 per share of common stock. The Board of Directors is scheduled to approve a new share repurchase program and will consider the dividend increase at its July meeting. The company’s capital plan contemplates actions that maintain capital ratios to meet regulatory and legal requirements and support the company’s funding and other capital markets activities. The timing and exact amount of repurchases under the new repurchase program will be based on market conditions and other factors, including Accounting Standards Update 2016-13, Financial Instruments – Credit Losses, commonly known as CECL, which becomes effective on January 1, 2020, and will change how financial institutions, including the company, account for expected credit losses.
Unit sales of print books fell 1.1% in the week ended December 21, 2019—the last full week before Christmas—compared to the similar week in 2018 at outlets that report to NPD BookScan. Units sold fell to 32.9 million, from 33.3 million, in the week ended December 22, 2018.
Unit sales in both adult categories fell compared to 2018. Adult fiction unit sales were off 3.2%, while unit sales of adult nonfiction fell 5.0%, to 13.6 million, from 14.3 million print copies a year ago.
more at source: https://www.publishersweekly.com/pw/by-topic/industry-news/bookselling/article/82067-print-units-fell-1-1-in-the-week-before-christmas.html