Citizens Financial Group, Inc. Declares Dividends on Preferred Stock

Rhea-AI Summary

Citizens Financial Group (NYSE: CFG) has declared dividends on its preferred stock, payable on October 6, 2022. Preferred shareholders of record by September 21, 2022 will receive:

• $15.9375 per share for Series C
• $15.875 per share for Series D
• $12.50 per share for Series E
• $14.125 per share for Series F
• $10.00 per share for Series G

This reinforces CFG's commitment to returning value to its shareholders.

Positive

• Dividend payments demonstrate ongoing financial strength.
• Quarterly cash dividends range from $10.00 to $15.9375 per share.

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, 2022, to preferred shareholders of record at the close of business on September 21, 2022:

• 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 $10.00 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 $226.7 billion in assets as of June 30, 2022. 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 full-service customer contact center and the convenience of approximately 3,300 ATMs and approximately 1,200 branches in 14 states and the District of Columbia. 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/20220818005642/en/

Media: Peter Lucht — 781.655.2289

Investors: Kristin Silberberg— 203.900.6854

Source: Citizens Financial Group, Inc.

FAQ

What is the dividend per share for CFG's preferred stocks?

The dividends for CFG's preferred stocks range from $10.00 to $15.9375 per share.

When is the dividend payment date for CFG preferred stock?

The dividend payment date for CFG preferred stock is October 6, 2022.

Who are the shareholders of record for CFG's preferred stock?

Shareholders of record for CFG's preferred stock are those on record as of September 21, 2022.

How often does CFG pay dividends on its preferred stock?

CFG pays dividends on its preferred stock quarterly.

Is the dividend for CFG preferred stock sustainable?

The sustainability of the dividend will depend on CFG's financial performance in future quarters.