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Citizens Financial Board Approves $750 Mln Stock Repurchase Program - Quick Facts

Citizens Financial Group, Inc. (CFG) announced that its board of directors authorized the company to repurchase up to $750 million of its outstanding common stock beginning in first quarter 2021. Citizens also announced that its board of directors declared a first quarter 2021 common stock dividend of $0.39 per share. The dividend is payable on February 17, 2021 to shareholders of record at the close of business on February 3, 2021.

Fourth quarter underlying earnings per share was $1.04 compared to $0.99, a year ago. On average, 20 analysts polled by Thomson Reuters expected the company to report profit per share of $0.91, for the quarter. Analysts' estimates typically exclude special items.

Fourth quarter revenue was $1.7 billion increased 4%, reflecting higher noninterest income, up 17% given strength in mortgage and record capital markets, partially offset by lower net interest income, down 1%. Analysts expected revenue of $1.7 billion, for the quarter.

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