CIT Declares Dividends

Rhea-AI Summary

CIT Group Inc. (NYSE: CIT) has announced a quarterly cash dividend of $0.35 per common share, payable on August 21, 2020, to shareholders of record by August 7, 2020. Additionally, a dividend of $0.3515625 per share on Series B preferred stock will be paid on September 15, 2020, to preferred shareholders of record by August 31, 2020. These announcements highlight CIT's commitment to returning value to shareholders amid ongoing market conditions.

Positive

• Quarterly cash dividend of $0.35 per common share enhances shareholder value.
• Continued dividend payments indicate financial stability and confidence in future performance.

Negative

• None.

NEW YORK, July 17, 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 Aug. 21, 2020 to common shareholders of record as of Aug. 7, 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 Sept. 15, 2020 to Series B preferred shareholders of record as of Aug. 31, 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 dividend amount for CIT Group in 2020?

CIT Group has declared a quarterly cash dividend of $0.35 per common share.

When will the CIT dividend be paid in 2020?

The dividend will be payable on August 21, 2020.

Who are the shareholders of record for the CIT dividend?

Shareholders of record for the common stock dividend must be registered by August 7, 2020.

What is the dividend for CIT's Series B preferred stock?

The Series B preferred stock will receive a dividend of $0.3515625 per share payable on September 15, 2020.

When is the record date for CIT's Series B preferred stock dividend?

The record date for the Series B preferred stock dividend is August 31, 2020.