NEW YORK, July 17, 2018 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its board of directors has declared a quarterly cash dividend of $0.25 per common share on its outstanding common stock, which represents a 56 percent increase over the prior quarter's $0.16 per common share dividend. The common stock dividend is payable on Aug. 24, 2018 to common shareholders of record as of Aug. 10, 2018.
Founded in 1908, CIT (NYSE: CIT) is a financial holding company with approximately $50 billion in assets as of March 31, 2018. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has approximately $30 billion of deposits and more than $40 billion of assets. CIT provides financing, leasing, and advisory services principally to middle-market companies and small businesses across a wide variety of industries. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A. For more information, visit cit.com.
SOURCE CIT Group Inc.