Citizens Financial Group, Inc. (NYSE:CFG) to Issue Quarterly Dividend of $0.52

Citizens Financial Group, Inc. (NYSE:CFG) declared a quarterly dividend on Tuesday, October 13th. Stockholders of record on Friday, October 30th will be paid a dividend of $0.52 per share by the bank on Friday, November 13th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, October 30th. This is a 13.0% increase from Citizens Financial Group’s previous quarterly dividend of $0.46.

Citizens Financial Group has a payout ratio of 42.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Citizens Financial Group to earn $6.49 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 32.0%.

Citizens Financial Group Trading Down 0.1%

Shares of CFG stock opened at $65.33 on Wednesday. The stock has a 50 day simple moving average of $66.82 and a two-hundred day simple moving average of $65.47. Citizens Financial Group has a fifty-two week low of $49.00 and a fifty-two week high of $75.33.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the previous year, the firm earned $1.05 EPS. On average, analysts forecast that Citizens Financial Group will post 5.30 earnings per share for the current year.

About Citizens Financial Group

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to consumers, small businesses, middle-market companies, large corporations and institutional clients.

The company offers consumer deposit accounts, residential mortgages, home equity financing, credit cards, personal loans and other lending products. Its commercial banking activities include business loans, equipment financing, treasury management, capital markets services and investment banking.