Citizens Financial Q2 Dividend 22% Higher Than Prior Year - Quick Facts

(RTTNews) - Citizens Financial Group, Inc. (CFG) announced its board declared a second quarter common stock dividend of $0.39 per share. The dividend is payable on May 13, 2020 to shareholders of record at the close of business on April 29, 2020. The company noted that its quarterly dividend is 22% higher than the year-ago quarter.

For the first-quarter, underlying earnings per share was $0.09 compared to $0.93, a year ago. Total revenue increased 4%, reflecting strength in noninterest income and stable net interest income.

CEO Bruce Van Saun said: "Our first quarter results were quite strong before the impact of the CECL provision build, which was impacted by COVID-19's effect on the economy."

Citizens Financial also noted that it will cease stock repurchases through December 31, 2020.