Telecom Signaling Industry News

TMCNet:  CIT to Repurchase up to $300 Million of Common Stock

[January 21, 2014]

CIT to Repurchase up to $300 Million of Common Stock

NEW YORK --(Business Wire)--

CIT Group Inc. (NYSE:CIT), a leading provider of financing and advisory services to small businesses and middle market companies, today announced that its Board of Directors approved the repurchase of up to $300 million of common stock through December 31, 2014. In addition, the Board also approved the repurchase of an additional $7 million of common stock, the amount remaining from its 2013 share repurchase authorization.

In May 2013, the Company was authorized to repurchase $200 million of common stock and successfully repurchased $193 million of common stock through December 31, 2013.

"This announcement reflects our continued efforts to return capital to our shareholders," said John A. Thain, Chairman and Chief Executive Officer. "As we work to enhance the value of our franchise we will continue to find ways to create shareholder value."

Management will determine the timing and amount of any share repurchases under the share repurchase authorizations based on market conditions and other considerations. The repurchases may be effected in the open market, through derivative, accelerated repurchase and other negotiated transactions, and through plans designed to comply with Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended.


View CIT's corporate overview video (, which showcases our support of the small business, middle market and transportation sectors. Follow us on Twitter, LinkedIn, YouTube and Facebook. Individuals interested in receiving corporate news releases can register at or subscribe to the RSS feed at

About CIT

Founded in 1908, CIT (NYSE:CIT) is a financial holding company with more than $35 billion in financing and leasing assets. It provides financing, leasing and advisory services to its clients and their customers across more than 30 industries. CIT maintains leadership positions in middle market lending, factoring, retail finance, aerospace, equipment and rail leasing, and vendor finance. CIT operates CIT Bank (Member FDIC), its primary bank subsidiary, which, through its Internet bank, offers a suite of savings options designed to help customers achieve a range of financial goals.

[ Back To Telecom Signaling's Homepage ]

Featured Events

5G NA Signaling Day

November 14-16, 2016
Sheraton Dallas, Dallas, TX

Featured Webcasts

Securing The Signaling Interconnect: Oracle's Perspective On Recent Security Events

Today's telecommunications landscape is changing rapidly, and the "institution" of trust between networks that has been assumed over the decades is no longer relevant. We are now hearing of vulnerabilities in CSP interconnection points that have been known ...

Applications of Wi-Fi Calling

With all of the discussion about faster data access and richer content, it could be assumed that voice services no longer play an important role in the business model of the communications service provider. Join ReThink Technologies Research and Oracle Communications as we explore ...

Featured Whitepapers

Oracle Communications Diameter Signaling Router Main Differentiators

Diameter is the protocol used by network elements in LTE and 3G networks to enable and monetize services, such as voice, video and data. Diameter enables revenue-generating data services; including tiered data plans, loyalty programs, application specific QoS, content provider and Internet of Things (IoT) solutions ...

Multi-Layer Security Protection for Signaling Networks

The sanctity of mobile operators' networks and brands will depend greatly on their ability to deliver QoS guarantees to roaming and interconnect partners, while simultaneously protecting increasingly multimedia-savvy and socially connected ...

Featured Datasheets

Oracle Communications Diameter Signaling Router

Centralizing Diameter routing with cloud deployable Oracle Communications Diameter Signaling Router creates a secure signaling architecture that reduces the cost and complexity of the core network and enables elastic growth, interoperability and rapid introduction ...

Oracle Communications Mobile Security Gateway

The Oracle Communications Mobile Security Gateway is a high performance gateway that allows the Communications Service Provider (CSP) to cost effectively expand network coverage and increase capacity by incorporating Heterogeneous ...

Oracle Communications Evolved Communications Application Server

As service providers drive their networks toward an all-IP and virtualized state, they require the means to design and deliver compelling high definition voice, video and multimedia offers via Voice over LTE (VoLTE) and Voice over WiFi (VoWiFi) ...

Featured Infographic