SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) December 24, 1996
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The CIT Group Holdings, Inc.
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(Exact name of registrant as specified in its charter)
Delaware I-1861 13-2994534
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(state or other (Commission (IRS Employer
jurisdiction of File Number Identification No.)
incorporation
1211 Avenue of the Americas copy to: 650 CIT Drive
New York, New York 10036 Livingston, New Jersey 07039
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(Address of principal executive offices)
Registrant's telephone number, including area code (212) 536-1211
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(Former name or former address, if changed since last report)
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Item 5. Other Events.
On December 24, 1996, with the consent of the shareholders of The CIT
Group Holdings, Inc. (the "Corporation"), The Dai-Ichi Kangyo Bank, Limited
("DKB") and CBC Holding (Delaware) Inc., a wholly owned subsidiary of The Chase
Manhattan Corporation ("CBC" Holding), the Corporation paid a special dividend
in the aggregate amount of $165 million to its shareholders. Each shareholder
then immediately contributed an aggregate amount equal to the special dividend
to the Corporation as additional paid in capital. Notwithstanding this special
dividend and subsequent capital contribution, the Corporation intends to
continue to follow a dividend policy requiring the payment of dividends by the
Corporation equal to and not exceeding 30% of net operating earnings of the
Corporation on a quarterly basis.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.
THE CIT GROUP HOLDINGS, INC.
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(Registrant)
By /s/ Joseph M. Leone
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Joseph M. Leone
Executive Vice President and
Chief Financial Officer
Dated: December 24, 1996
