Citigroup Inc. (C) Thursday said its board approved a $1.2 billion repurchase program through the first quarter of 2014. The company also declared a quarterly dividend of $0.01 per share, payable on May 24 to stockholders on record as of May 6.
The buy back plan was part of the planned capital actions included by Citi in its 2013 Comprehensive Capital Analysis and Review and is intended to offset estimated dilution created by Citi's annual incentive compensation grants.
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