Citigroup Inc. (C) To Go Ex-Dividend on August 3rd

Citigroup Inc. (NYSE:C) announced a quarterly dividend on Tuesday, July 21st. Investors 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 yield of 2.0%. The ex-dividend date of this dividend 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%per year 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% indicating that its dividend is sufficiently covered by earnings. Research 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 Down 0.3%

Shares of C opened at $132.39 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.71. The business has a fifty day moving average of $134.70 and a 200 day moving average of $123.67. The company has a market cap of $225.80 billion, a PE ratio of 14.30, a P/E/G ratio of 0.60 and a beta of 1.11. Citigroup has a 52-week low of $87.94 and a 52-week high of $147.96.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, beating the consensus estimate of $2.74 by $0.41. The business had revenue of $24.75 billion for the quarter, compared to the consensus estimate of $23.74 billion. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.96 earnings per share. On average, sell-side analysts expect that Citigroup will post 11.22 EPS for the current year.

Citigroup announced that its Board of Directors has initiated a stock buyback program on Thursday, May 7th that permits the company to repurchase $30.00 billion in shares. This repurchase authorization permits the company to reacquire up to 13.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

About Citigroup

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.