Discover Board Approves Change of Fiscal Year End to Dec. 31 from Nov. 30
05 Dicembre 2012 - 12:08AM
Dow Jones News
By Andrew R. Johnson
Discover Financial Services (DFS) said Tuesday its board of
directors approved changing the end of the credit-card lender's
fiscal year to Dec. 31 from Nov. 30.
The change is effective beginning with the 2013 fiscal year,
which will begin Jan. 1, the Riverwoods, Ill.-based company said.
The company said the current month will serve as a transition
period, the results of which it expects will be reported separately
in its 2013 first-quarter report, which will cover the months of
January through March.
The change could also affect record dates and payment dates for
dividends to be paid on its common stock if and when they are
declared in the future.
Write to Andrew R. Johnson at andrew.r.johnson@dowjones.com
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