Citigroup Inc. (C) to Issue Quarterly Dividend of $0.67 on August 28th

Citigroup Inc. (NYSE:C) announced a quarterly dividend on Tuesday, July 21st. Shareholders of record on Monday, August 3rd will be paid a dividend of 0.67 per share on Friday, August 28th. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, August 3rd. This is a 11.7% increase from Citigroup’s previous quarterly dividend of $0.60.

Citigroup has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 2 years. Citigroup has a dividend payout ratio of 28.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Citigroup to earn $12.94 per share next year, which means the company should continue to be able to cover its $2.68 annual dividend with an expected future payout ratio of 20.7%.

Citigroup Stock Performance

Shares of Citigroup stock opened at $132.67 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71. The stock’s fifty day moving average price is $135.82 and its 200-day moving average price is $124.16. The firm has a market cap of $226.29 billion, a P/E ratio of 14.33, a P/E/G ratio of 0.60 and a beta of 1.11. Citigroup has a 12 month low of $87.94 and a 12 month high of $147.96.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.41. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The business had revenue of $24.75 billion for the quarter, compared to the consensus estimate of $23.74 billion. During the same quarter last year, the firm posted $1.96 EPS. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, equities research analysts expect that Citigroup will post 11.21 earnings per share for the current fiscal year.

Citigroup declared that its Board of Directors has initiated a share buyback plan on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 13.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.