Seeking Alpha

Citigroup Inc declares $0.01 dividend

  • Citigroup Inc. (C) declares $0.01/share quarterly dividend, in line with previous.
  • Forward yield 0.08%
  • Payable Nov. 22; for shareholders of record Nov. 4; ex-div Oct. 31.
Comments (5)
  • Ross Healy, CFA
    , contributor
    Comments (53) | Send Message
     
    Are you putting us on? Someone actually bothered to post this breathless piece of info? (Even worse, I wasted my time in responding to the nonsense.)
    17 Oct 2013, 03:07 PM Reply Like
  • snoopy44
    , contributor
    Comments (938) | Send Message
     
    A penny quarterly dividend. You have to be kidding me right? Why even bother? It is an insult to dividend investors everywhere. If this isn't a sign of tremendous financial "distress" in the big banks, I don't know what is. Just sends a terrible signal to prospective investors. This stock is a complete "dog".
    17 Oct 2013, 05:21 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (9156) | Send Message
     
    Citi is doing the smart thing and building up its fortress balance sheet.

     

    This is exactly what the 2007 investors should have wanted...better safe than sorry.
    17 Oct 2013, 05:47 PM Reply Like
  • clarbb
    , contributor
    Comments (7) | Send Message
     
    Citi has more Tier I capital and Tangible Common Equity than any of the other major banks. It is a disgrace that it is not returning any capital to its long suffering shareholders.
    18 Oct 2013, 01:31 PM Reply Like
  • illum.land
    , contributor
    Comments (14) | Send Message
     
    Citi would be foolish to pay a higher dividend right now. Citi is trading 80% of book value so why would investors want capital returned to them in the form of a dividend that has to be taxed at 20%? If Citi is to return capital to investors it should be in the form of share repurchases, which has no negative tax consequences and could drive the stock price up closer to book value.
    21 Oct 2013, 02:32 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs