- Citizens Financial Group ( NYSE: CFG ) announced on Friday a $1.15B increase in its share repurchase program.
- This is incremental to the $850M of capacity remaining as of December 31, 2022 under the prior June 2022 authorization, of which $400M will be utilized during first quarter 2023.
- John Woods, Vice Chairman and Chief Financial Officer, stated: "With this increase in authorization, we continue to expect that our total payout ratio, including common dividends, will approach 100% for 2023. Additionally, we continue to target a medium-term dividend payout ratio in the thirty-five to forty percent range."
For further details see:
Citizens Financial Group boosts stock buyback plan by $1.15B