CIT Group's Preferred Stock, Series B Yield Pushes Past 5.5%

In trading on Wednesday, shares of CIT Group Inc's 5.625% Non-Cumulative Perpetual Preferred Stock, Series B (CIT. RB) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.4062), with shares changing hands as low as $25.56 on the day.
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