Citigroup To Maintain Dividend Of $0.51/shr

Citigroup (C) said it looks forward to continuing with its planned capital actions, including common dividends of at least $0.51 per share, and to continuing share repurchases.

Citi said that, by the end of the first two quarters of this year, it will have returned to shareholders the maximum amount of capital permitted under Federal Reserve rules.

Based on Citigroup's updated regulatory capital requirements, Citi continues to believe that a targeted Common Equity Tier 1 Capital ratio of approximately 11.5% represents the amount necessary to prudently operate and invest in Citi's franchise.

The Federal Reserve Board communicated that Citi's 2021 Stress Capital Buffer or SCB requirement will increase from the currently effective requirement of 2.5% to 3.0% for the four quarter window of the fourth-quarter 2021 - third-quarter of 2022.

Incorporating the SCB, and a GSIB surcharge of 3.0%, results in a minimum regulatory requirement of 10.5% under the Standardized Approach, effective October 1, 2021.

Citi's minimum regulatory requirement under the Advanced Approaches will remain unchanged at 10.0%. As of the first quarter of 2021, Citi's Common Equity Tier 1 Capital ratio was 11.8% under both the Standardized and Advanced Approaches.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. air travel industry is going through its worst crisis since the troubled travel time during the peek pandemic struggles, with thousands of flights across the country being cancelled or getting delayed. The aviation crisis, as millions are preparing to travel during the upcoming July 4th holiday weekend, is mainly attributed to the staffing issues at airlines, ... The U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS has issued a public health alert for Siluriformes products imported by Carlstadt, New Jersey- based Grand BK Corp. The products were imported from Korea, a country ineligible to export Siluriformes products to the United States. Blount Fine Foods is recalling a limited amount of Panera at Home Southwest Corn Chowder citing undeclared wheat allergen, the U.S. Food and Drug Administration said. The recall involves a single lot of 16 oz. product with UPC Code 077958690812, lot number 042122-2K and "Use By" date of 6/30/22 that comes around 2,569 cases in total. The recall is limited to 1 SKU of 16 oz.
Follow RTT