CIT GROUP INC. (NYSE:CIT) Files An 8-K Other EventsItem 8.01. Other Events.
Common Stock Dividend
On April16, 2018, the CIT Group Inc. (“CIT” or the “Company”) issued a press release announcing that the Board of Directors of the Company (the “CIT Board”) declared a quarterly cash dividend in the amount of $0.16 per common share, payable on May25, 2018 to common shareholders of record on May11, 2018. The press release is attached as Exhibit 99.1.
Preferred Stock Dividend
On April16, 2018, the Company issued a press release announcing that the CIT Board declared a semi-annual dividend in the amount of $29.00 per share on the Series A preferred stock of the Company, payable on June15, 2018 to preferred stockholders of record at the close of business on May31, 2018. The press release is attached as Exhibit 99.1.
Item 8.01. Exhibits.
(d) Exhibits. The following exhibits are being filed herewith:
This Form 8-K contains forward-looking statements within the meaning of applicable federal securities laws that are based upon our current expectations and assumptions concerning future events, which are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. The words “expect,” “anticipate,” “estimate,” “forecast,” “initiative,” “objective,” “plan,” “goal,” “project,” “outlook,” “priorities,” “target,” “intend,” “evaluate,” “pursue,” “commence,” “seek,” “may,” “would,” “could,” “should,” “believe,” “potential,” “continue,” or the negative of any of those words or similar expressions is intended to identify forward-looking statements. All statements contained in this Form 8-K, other than statements of historical fact, including without limitation, statements about our plans, strategies, prospects and expectations regarding future events and our financial performance, are forward-looking statements that involve certain risks and uncertainties. While these statements represent our current judgment on what the future may hold, and we believe these judgments are reasonable, these statements are not guarantees of any events or financial results, and our actual results may differ materially. Important factors that could cause our actual results to be materially different from our expectations include, among others, the risk that (i)CIT is unsuccessful in implementing its strategy and business plan, (ii)CIT is unable to react to and address key business and regulatory issues, (iii)CIT is unable to achieve the projected revenue growth from its new business initiatives or the projected expense reductions from efficiency improvements, (iv)CIT becomes subject to liquidity constraints and higher funding costs, or (v)the parties to a transaction do not receive or satisfy regulatory or other approvals or conditions on a timely basis or approvals are subject to conditions that are not anticipated. We describe these and other risks that could affect our results in Item 1A, “Risk Factors,” of our latest Annual Report on Form 10-K for the year ended December31, 2017, which was filed with the Securities and Exchange Commission. Accordingly, you should not place undue reliance on the forward-looking statements contained in this Form 8-K. These forward-looking statements speak only as of the date on which the statements were made. CIT undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except where expressly required by law.
CIT GROUP INC ExhibitEX-99.1 2 d572035dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 CIT Declares Dividends NEW YORK April 16,…To view the full exhibit click
About CIT GROUP INC. (NYSE:CIT)
CIT Group Inc. (CIT) is a bank holding company. The Company, together with its subsidiaries, provides financing, leasing and advisory services to middle market companies in a range of industries in North America, and equipment financing and leasing solutions to the transportation industry around the world. The Company’s segments include North America Banking (NAB), including Commercial Real Estate, Commercial Banking and Consumer Banking divisions; Transportation & International Finance (TIF), including Aerospace, Rail, Maritime Finance and International Finance divisions, and Legacy Consumer Mortgages (LCM), which includes single-family residential mortgage (SFR) loans and reverse mortgage loans. CIT products and services include account receivables collection; equipment leases; acquisition and expansion financing; factoring services; financial risk management; asset management and servicing; asset-based loans; insurance services; credit protection; debt restructuring, and deposits.