Citizens Financial Group, Inc. Declares Dividends on Preferred Stock

Rhea-AI Summary

Citizens Financial Group, Inc. (NYSE: CFG) declared dividends on preferred stock, payable on October 6, 2021, to shareholders of record as of September 21, 2021. The dividends include:

• $15.9375 for Series C
• $15.875 for Series D
• $12.50 for Series E
• $14.125 for Series F
• $12.7778 for Series G

This reflects the company's commitment to returning value to shareholders.

Positive

• Quarterly cash dividends declared, indicating financial stability.
• Dividends range from $12.50 to $15.9375 per share, attracting income-focused investors.

Negative

• None.

PROVIDENCE, R.I.--(BUSINESS WIRE)-- Citizens Financial Group, Inc. (NYSE: CFG) announced that its board of directors has declared the following dividends on its preferred stock payable on October 6, 2021, to preferred shareholders of record at the close of business on September 21, 2021:

• 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;
• a quarterly cash dividend of $14.125 per share on CFG’s 5.650% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series F; and
• a quarterly cash dividend of $12.77777778 per share on CFG’s 4.000% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series G.

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $185.1 billion in assets as of June 30, 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 3,000 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/20210824005766/en/

Media: Peter Lucht — 781.655.2289

Investors: Kristin Silberberg— 203.900.6854

Source: Citizens Financial Group, Inc.

FAQ

What is the dividend amount for CFG's Series C preferred stock?

The dividend for Series C is $15.9375 per share.

When will CFG's preferred stock dividends be paid?

Dividends will be paid on October 6, 2021.

What is the record date for CFG's preferred stock dividends?

The record date is September 21, 2021.

How often does CFG pay dividends on its preferred stock?

CFG pays dividends quarterly on its preferred stock.

Are the dividends paid by CFG sustainable?

The announcement of dividends suggests a commitment to returning value, but sustainability should be analyzed in future financial reports.