Published on 26 Apr 2024 on Simply Wall St. via Yahoo Finance

Don't Race Out To Buy Citizens Financial Group, Inc. (NYSE:CFG) Just Because It's Going Ex-Dividend

It looks like Citizens Financial Group, Inc. (NYSE:CFG) is about to go ex-dividend in the next three days. The ex-dividend date is one business day before the record date, which is the cut-off date for shareholders to be present on the company's books to be eligible for a dividend payment. It is important to be aware of the ex-dividend date because any trade on the stock needs to have been settled on or before the record date. Therefore, if you purchase Citizens Financial Group's shares on or after the 30th of April, you won't be eligible to receive the dividend, when it is paid on the 15th of May.

The company's next dividend payment will be US$0.42 per share, on the back of last year when the company paid a total of US$1.68 to shareholders. Based on the last year's worth of payments, Citizens Financial Group stock has a trailing yield of around 4.8% on the current share price of US$35.00. We love seeing companies pay a dividend, but it's also important to be sure that laying the golden eggs isn't going to kill our golden goose! That's why we should always check whether the dividend payments appear sustainable, and if the company is growing.