Citizens Financial Group, Inc. Declares Dividends on Preferred Stock

Rhea-AI Summary

Citizens Financial Group, Inc. (CFG) declared dividends on its preferred stock, payable on July 6, 2021, to shareholders recorded by June 21, 2021. Key dividends include a quarterly cash dividend of $10.50 for Series A, $30.00 for Series B (semi-annual), $15.93 for Series C, $15.88 for Series D, $12.50 for Series E, and $14.13 for Series F. As of March 31, 2021, CFG reported $187.2 billion in assets, underscoring its status as a major financial institution in retail and commercial banking.

Positive

• Declared dividends demonstrate commitment to returning value to shareholders.
• Quarterly dividends range from $10.50 to $15.93, indicating a robust financial position.
• Semi-annual dividend of $30.00 for Series B shows confidence in ongoing profitability.

Negative

• None.

Citizens Financial Group, Inc. (NYSE: CFG) announced that its board of directors has declared the following dividends on its preferred stock payable on July 6, 2021, to preferred shareholders of record at the close of business on June 21, 2021:

• a quarterly cash dividend of $10.50102083 per share on CFG’s 5.500% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A;
• a semi-annual cash dividend of $30.00 per share on CFG’s 6.000% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B;
• a quarterly cash dividend of $15.9375 per share on CFG’s 6.375% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series C;
• a quarterly cash dividend of $15.875 per share ($0.396875 per each depositary share, each representing a 1/40th interest in a share of the preferred stock) on CFG’s 6.350% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D;
• a quarterly cash dividend of $12.50 per share ($0.3125 per each depositary share, each representing a 1/40th interest in a share of the preferred stock) on CFG’s 5.000% Fixed-For-Life Non-Cumulative Perpetual Preferred Stock, Series E; and
• a quarterly cash dividend of $14.125 per share on CFG’s 5.650% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series F.

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $187.2 billion in assets as of March 31, 2021. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 2,700 ATMs and approximately 1,000 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.

CFG-IR

View source version on businesswire.com: https://www.businesswire.com/news/home/20210507005518/en/

FAQ

What is the dividend amount declared by CFG on June 21, 2021?

Citizens Financial Group declared various dividends, including $10.50 for Series A, $30.00 for Series B, $15.93 for Series C, $15.88 for Series D, $12.50 for Series E, and $14.13 for Series F.

When is the dividend payment date for CFG?

The dividend payment date for CFG is July 6, 2021.

What is the significance of the dividend declaration by CFG?

The dividend declaration highlights Citizens Financial Group's commitment to shareholder value and reflects its strong financial position with $187.2 billion in assets.