CIT Declares Dividends

Rhea-AI Summary

CIT Group Inc. (NYSE: CIT) announced a quarterly cash dividend of $0.35 per common share, payable on Nov. 12, 2021, to shareholders of record as of Oct. 29, 2021. Additionally, a semi-annual cash dividend of $29.00 per share on Series A preferred stock and a quarterly dividend of $0.3515625 per share on Series B preferred stock were declared, both payable on Dec. 15, 2021, to shareholders of record as of Nov. 30, 2021.

Positive

• Quarterly cash dividend of $0.35 per common share enhances shareholder returns.
• Semi-annual cash dividend of $29.00 on Series A preferred stock demonstrates commitment to preferred shareholders.
• Quarterly dividend of $0.3515625 on Series B preferred stock supports investor confidence.

Negative

• None.

NEW YORK, Oct. 18, 2021 /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. 12, 2021 to common shareholders of record as of Oct. 29, 2021.

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, 2021 to Series A preferred shareholders of record as of Nov. 30, 2021.

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, 2021 to Series B preferred shareholders of record as of Nov. 30, 2021.

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 dividend amount announced by CIT on October 18, 2021?

CIT announced a quarterly cash dividend of $0.35 per common share.

When is the dividend payable to CIT common shareholders?

The dividend is payable on November 12, 2021.

What are the payment details for the Series A preferred stock dividend?

The Series A preferred stock dividend of $29.00 per share is payable on December 15, 2021.

What is the Series B preferred stock dividend amount and payment date?

The Series B preferred stock dividend is $0.3515625 per share, payable on December 15, 2021.

Who is eligible to receive the dividends declared by CIT?

Shareholders of record as of October 29, 2021, for common stock and November 30, 2021, for preferred stock are eligible.