Citizens Financial To Buy Back Addl. $1.2 Bln Shares

(RTTNews) - Citizens Financial Group, Inc. (CFG) announced Friday that its board of directors has increased the capacity of its share repurchase program by $1.2 billion to reach $1.5 billion.

The latest buyback program is in addition to the $300 million of capacity currently remaining under the prior June 2024 authorization.

Citizens Financial said it will assess potential changes to its capital distributions as conditions warrant. Citizens' common stock repurchases may be executed in the open market or in privately negotiated transactions.

John Woods, Vice Chair and Chief Financial Officer, said, "The authorization reflects confidence in our ability to deliver strong financial performance, support our customers, invest across our businesses and drive forward our organic growth initiatives while delivering attractive capital returns to shareholders."

In pre-market activity on the NYSE, Citizens Financial shares were trading at $40.80, down 0.87%.