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# Citizens Financial Raises Dividend 13% To $0.52 And Lifts Buyback Capacity To $1.95 Billion
- URL: https://www.bullished.co/citizens-financial-raises-dividend-13-to-0-52-and-lifts-buyback-capacity-to-1-95-billion-59157e61/
- Published: 2026-10-16T10:41:29.000Z
- Updated: 2026-10-28T20:48:11.000Z
- Description: Third-quarter net income rose 29% from a year earlier, while tangible book value per share fell 6.6% from the second quarter.
- Author: Matteo Parrino
- Tags: Earnings, CFG, Industry: Financials

[Citizens Financial Group](https://www.bullished.co/tag/cfg/)'s board raised the quarterly dividend 13% to $0.52 a share and [increased buyback capacity](https://www.sec.gov/Archives/edgar/data/0000759944/000075994426000206/cfg-20261016.htm?ref=bullished.co) to $1.95 billion, the bank said in an [8-K](https://www.bullished.co/learn/8-k-items-explained/) filed Friday with its third-quarter results. Net income was $636 million, up 29% from a year earlier.

## What the earnings release says

Diluted earnings per share were [$1.41](https://www.sec.gov/Archives/edgar/data/0000759944/000075994426000206/a3q26earningsrelease.htm?ref=bullished.co), up 34% from a year earlier and 8% from the second quarter. Total revenue was $2,322 million, up 10% from a year earlier.

Pre-provision profit, earnings before setting aside money for bad loans, reached $929 million, up 19% from a year earlier. Expenses grew 4%, which left positive operating leverage (revenue growth outpacing expense growth) of 5.3% from a year earlier.

The Private Bank, which serves wealthy clients, contributed $0.16 to earnings per share. Its spot deposits rose about $750 million, or 4%, from the second quarter to $18.5 billion.

CEO Bruce Van Saun said the bank continued to deliver "attractive revenue and earnings growth in the third quarter, notwithstanding significant volatility in the external environment."

## Dividend, buyback and the book-value drop

The $0.52 dividend is up $0.06 from the prior quarter. It is payable November 13, 2026 to holders of record at the close of business on October 30, 2026.

The buyback capacity of $1.95 billion is $1.3 billion above the $650 million that remained under the June 2025 authorization. The bank repurchased $125 million of shares in the third quarter, versus $225 million in the second quarter.

Tangible book value per share fell 6.6% from the second quarter to $35.78\. The company blamed higher long-term rates, which hurt its securities and swap portfolios. The common equity tier 1 capital ratio, a core measure of loss-absorbing capital, was 10.5%, versus 10.4% in the second quarter.

## What the presentation guides to

Per the [investor presentation](https://www.sec.gov/Archives/edgar/data/0000759944/000075994426000206/a3q26earningspresentatio.htm?ref=bullished.co), the bank expects fourth-quarter net interest income up about 2.5% to 3% from the third quarter. It also expects about $200 million in share repurchases.

It projects its net interest margin will reach 3.30% to 3.50% by the fourth quarter of 2027, versus 3.19% in the third quarter of 2026\. It targets a return on tangible common equity of 16% to 18% by the end of 2027, against 15.1% this quarter.

The cost program called Reimagine the Bank is targeting about $225 million of pre-tax run-rate benefit by year-end 2027.

The next dated item is the November 13 dividend payment to holders of record on October 30.

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — CITIZENS FINANCIAL GROUP INC/RI (CFG)](https://www.sec.gov/Archives/edgar/data/0000759944/000075994426000206/cfg-20261016.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit a3q26earningsrelease.htm — CITIZENS FINANCIAL GROUP INC/RI 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000759944/000075994426000206/a3q26earningsrelease.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit a3q26earningspresentatio.htm — CITIZENS FINANCIAL GROUP INC/RI 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000759944/000075994426000206/a3q26earningspresentatio.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit q326financialsupplement.htm — CITIZENS FINANCIAL GROUP INC/RI 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000759944/000075994426000206/q326financialsupplement.htm?ref=bullished.co) — SEC EDGAR

### More on Citizens Financial Group

- [Citizens Moves $833 Million Of Bonds To Held-To-Maturity As Tangible Book Value Falls To $35.78](https://www.bullished.co/citizens-moves-833-million-of-bonds-to-held-to-maturity-as-tangible-book-value-falls-to-35-7c4c9e28/)
- [Cucinelli Raises 2026 Growth Outlook To About 12% But Says He Won't Open 20 Stores A Year](https://www.bullished.co/cucinelli-raises-2026-growth-outlook-to-about-12-but-says-he-wont-open-20-stores-a-year-7dbd4f82/)
- [Citizens Financial Redeems All Series G Preferred Shares And Files To Erase The Class From Its Charter](https://www.bullished.co/citizens-financial-redeems-all-series-g-preferred-shares-and-files-to-erase-the-class-from-63e0fb52/)

[All Citizens Financial Group (CFG) coverage →](https://www.bullished.co/tag/cfg/)