CIT Declares Dividends

Rhea-AI Summary

CIT Group Inc. (NYSE: CIT) has declared a quarterly cash dividend of $0.35 per common share, payable on Nov. 20, 2020, to shareholders of record as of Nov. 6, 2020. Additionally, a semi-annual cash dividend of $29.00 per share on Series A preferred stock will be paid on Dec. 15, 2020, and a quarterly cash dividend of $0.3515625 per share on Series B preferred stock will also be paid on Dec. 15, 2020 to shareholders of record as of Nov. 30, 2020.

Positive

• Regular cash dividend of $0.35 indicates strong cash flow.
• Preferred dividends highlight commitment to shareholder returns.

Negative

• None.

NEW YORK, Oct. 15, 2020 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its board of directors has declared a quarterly cash dividend of $0.35 per common share on its outstanding common stock. The common stock dividend is payable on Nov. 20, 2020 to common shareholders of record as of Nov. 6, 2020.

The CIT board of directors also declared a semi-annual cash dividend on the Series A preferred stock of $29.00 per share payable on Dec. 15, 2020 to Series A preferred shareholders of record as of Nov. 30, 2020.

In addition, the CIT board of directors declared a quarterly cash dividend on the Series B preferred stock of $0.3515625 per share payable Dec. 15, 2020 to Series B preferred shareholders of record as of Nov. 30, 2020.

About CIT
CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The company's commercial banking segment includes commercial financing, community association banking, middle market banking, equipment and vendor financing, factoring, railcar financing, treasury and payments services, and capital markets and asset management. CIT's consumer banking segment includes a national direct bank and regional branch network. Discover more at cit.com/about.

MEDIA RELATIONS:  
Gina Proia
212-771-6008
Gina.Proia@cit.com

INVESTOR RELATIONS:
Barbara Callahan   
973-740-5058   
Barbara.Callahan@cit.com 

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SOURCE CIT Group Inc.

FAQ

What is the CIT dividend amount for common shares for Q4 2020?

CIT has declared a dividend of $0.35 per common share for Q4 2020.

When is the CIT Group dividend payable?

The dividend is payable on November 20, 2020.

What is the record date for CIT's common stock dividend?

The record date for the common stock dividend is November 6, 2020.

What is the dividend for Series A preferred stock of CIT?

CIT has declared a semi-annual cash dividend of $29.00 per share on Series A preferred stock.

When will the Series B preferred stock dividend be paid?

The Series B preferred stock dividend will be paid on December 15, 2020.