Citigroup Inc. (NYSE:C) to Issue Quarterly Dividend of $0.67

Citigroup Inc. (NYSE:C) declared a quarterly dividend on Tuesday, July 21st. Stockholders of record on Monday, August 3rd will be given 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 raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 2 years. Citigroup has a payout ratio of 25.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Citigroup to earn $12.92 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 18.6%.

Citigroup Stock Up 3.2%

C stock opened at $132.82 on Wednesday. The company’s 50 day moving average is $134.53 and its 200 day moving average is $123.56. 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 has a market cap of $226.53 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 0.58 and a beta of 1.11. Citigroup has a 1-year low of $87.94 and a 1-year high of $147.96.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.41. The firm had revenue of $24.75 billion during the quarter, compared to analyst estimates of $23.74 billion. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The company’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.96 earnings per share. Sell-side analysts predict that Citigroup will post 11.22 EPS for the current fiscal year.

Citigroup announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 13.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board 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.