Section 8 – Other Events
Common Stock Dividend
On October 16,
2018, 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 $0.25 per common share,
payable on November 27, 2018 to common shareholders of record at the close of business on November 13, 2018. A copy of the press release is attached as Exhibit 99.1 and incorporated herein by reference.
Preferred Stock Dividend
On
October 16, 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 December 17, 2018 to preferred
stockholders of record at the close of business on November 30, 2018. A copy of the press release is attached as Exhibit 99.1 and incorporated herein by reference.
| (d) |
Exhibits. The following exhibit is being filed herewith: |
Forward-Looking Statements
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 (including our anticipated use of the net proceeds from the sale of one or more our businesses or our assets),
our pending or potential acquisition and disposition plans, including the timing and results of the sale of one or more of our businesses or our assets or the anticipated charges or net proceeds that could result from the entry into or termination
of certain financial contracts or instruments, 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 is unable to achieve the projected gains from the sale of one or more of its businesses or assets,
(v) CIT becomes subject to liquidity constraints and higher funding costs, or (vi) 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 December 31,
