Citigroup Inc Announces Quarterly Dividend of $0.45 (NYSE:C)

Citigroup Inc (NYSE:C) declared a quarterly dividend on Wednesday, April 17th, RTT News reports. Shareholders of record on Monday, May 6th will be paid a dividend of 0.45 per share by the financial services provider on Friday, May 24th. This represents a $1.80 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Friday, May 3rd.

Citigroup has raised its dividend by an average of 112.7% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Citigroup has a dividend payout ratio of 27.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Citigroup to earn $8.68 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 20.7%.

Shares of NYSE C opened at $67.63 on Friday. Citigroup has a 1-year low of $48.42 and a 1-year high of $75.24. The firm has a market cap of $175.33 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 0.77 and a beta of 1.71. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.01 and a quick ratio of 1.01.

Citigroup (NYSE:C) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.09. Citigroup had a return on equity of 10.05% and a net margin of 18.32%. The business had revenue of $18.58 billion during the quarter, compared to analyst estimates of $18.56 billion. During the same period in the prior year, the company earned $1.68 earnings per share. Citigroup’s revenue was down 1.6% compared to the same quarter last year. Analysts anticipate that Citigroup will post 7.6 earnings per share for the current year.

Several brokerages have weighed in on C. BMO Capital Markets increased their price objective on Citigroup from $92.00 to $93.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Standpoint Research lowered Citigroup from a “buy” rating to a “hold” rating in a report on Wednesday, January 16th. Zacks Investment Research lowered Citigroup from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Jefferies Financial Group raised Citigroup from a “hold” rating to a “buy” rating and increased their price objective for the company from $64.00 to $73.00 in a report on Friday, February 22nd. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $80.00 price target on shares of Citigroup in a report on Tuesday, January 15th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $80.29.

In related news, insider Michael Whitaker sold 7,000 shares of the stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $63.24, for a total value of $442,680.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Stephen Bird sold 30,000 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $69.33, for a total value of $2,079,900.00. The disclosure for this sale can be found here. Insiders sold 42,420 shares of company stock valued at $2,870,923 over the last ninety days. Corporate insiders own 0.09% of the company’s stock.

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Citigroup Company Profile

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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Dividend History for Citigroup (NYSE:C)

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