Welcome to our dedicated page for CIT news (Ticker: CIT), a resource for investors and traders seeking the latest updates and insights on CIT stock.
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CIT Group Inc (CIT) has announced a donation to provide fresh food for 100,000 meals to Table to Table, addressing food insecurity in Northern New Jersey. This initiative is part of CIT's 'Acts of Caring' program and was prompted by customer feedback. In 2019, Table to Table rescued enough food for 26 million meals, serving over 250 organizations in the area. CIT's donation highlights its commitment to community support, with employees already volunteering over 1,500 hours for various causes this year.
CIT Group Inc (CIT) announced a donation of meals to Mission 22, supporting veteran families through the Vets Feeding Vets program. This initiative, part of CIT's Acts of Caring, aims to assist up to 25 families for a month. The donation follows a nomination from a Community Association Banking customer in Exeter, NH. CIT's commitment to community service also includes over 3,000 volunteer efforts by employees, focusing on various social issues. Mission 22 helps veterans facing challenges such as post-traumatic stress and traumatic brain injury.
CIT Group Inc. (NYSE: CIT) has announced a $25 million loan to support Seavest Healthcare Properties in acquiring the MLK Community Hospital Medical Office Building in South Los Angeles. This hospital serves the underserved communities of Watts, Compton, and Willowbrook. CIT aims to enhance healthcare access in the area, aligning with its commitment to community support. This transaction follows a recent $47 million investment in the Jordan Downs Apartment Project, indicating CIT's ongoing efforts to revitalize the Watts neighborhood.
CIT Group Inc. (CIT) has donated essential supplies to The Arc of the Bay, a nonprofit aiding adults with disabilities in Lynn Haven, FL. The funds will support the Culinary Institute, providing food ingredients, cutlery kits, uniforms, and certification tests for over 50 students. This donation is part of CIT's 'Acts of Caring' initiative, which invites customers to recommend community needs. The Arc, established in 1957, currently assists over 200 individuals, promoting self-sufficiency and independence for those with disabilities.
CIT Group Inc. (CIT) announced on July 22, 2020, its decision to double a grant to Flushing Town Hall following a successful online poll in its Acts of Caring initiative. The funding will support expanded virtual family programming for Queens, NY, communities, aiming to foster cultural appreciation and understanding. Flushing Town Hall will implement the new programming to reach local families and school-aged children. CIT's community efforts involve over 3,000 acts of service, underscoring the company's commitment to social responsibility during the COVID-19 pandemic.
CIT Group Inc. (NYSE: CIT) reported its second quarter 2020 financial results on July 21, 2020. Key highlights include a significant impact from the COVID-19 pandemic on operational performance, which resulted in lower revenues. The bank is committed to navigating the challenging market conditions while focusing on financial agility. Additionally, a conference call was held on the same day to discuss the results in detail. The presentation and further financial details are accessible through CIT's Investor Relations page.
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.
CIT Group Inc. (NYSE: CIT) announced it arranged $126 million financing for the 108 MW Trent River Solar project in Pollocksville, North Carolina. This financing supports solar project developer Pine Gate Renewables, which operates over 400 MW of renewable energy projects and has additional 4 GW in development. The project will sell power to Duke Energy Progress under a 20-year agreement. CIT aims to enhance its presence in renewable energy lending and will provide cash management and capital markets services.
CIT Group Inc. (NYSE: CIT) announced on July 15, 2020, that CIT Northbridge Credit acted as the sole lead arranger for a $40 million senior secured credit facility for Europa Sports Products LLC. The funding will support general corporate purposes and business development. Europa Sports Products is a leading distributor of nutritional and sports supplements. CIT Northbridge provides flexible asset-based debt solutions ranging from $15 million to $150 million.
