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SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2015
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS
On August 3, 2015, RBS completed the sale of 98,900,000 shares, or 18.4%, of CFG’s outstanding common stock, at a public offering price of $26.00 per share. On the same day, CFG used the net proceeds of its public offering of $250 million aggregate principal amount 4.350% Subordinated Notes due 2025 issued on July 31, 2015, to repurchase 9,615,384 shares of its outstanding common stock directly from RBS at $26.00 per share. Immediately following the completion of this stock repurchase transaction, RBS owned 110,461,782 shares, or 20.9%, of CFG’s outstanding common stock.
On July 21, 2015, the Company announced a quarterly cash dividend of $0.10 per share, or $53 million, payable on August 17, 2015 to shareholders of record at the close of business on August 3, 2015.