Citizens Financial Group: Two Good Income Options
Citizens Financial (CFG) Seeking Alpha·2024-05-10 04:05
JHVEPhoto Citizens Financial Group (NYSE:CFG) is a regional bank that has joined its industry peers in struggling to maintain earnings and deposits in an environment of high-interest rates. Back in November, I wrote on the opportunity being presented with the bank’s Series D preferred shares (CFG PR D). These shares will begin floating at a rate of three-month SOFR plus 390 basis points with their next dividend declaration. Based on today’s market pricing, the dividend yield would be just under 8.5%. Fo ...