Citigroup Declares Common Stock Dividend; Board of Directors Approves $1.2 Billion Common Stock Repurchase Program
The Board of Directors of Citigroup Inc. today declared a quarterly
dividend on Citigroup’s common stock of $0.01 per share, payable on May
24, 2013 to stockholders of record on May 6, 2013.
The Board of Directors also approved a $1.2 billion common stock
repurchase program through the first quarter of 2014. As previously
announced, the repurchase program was part of the planned capital
actions included by Citi in its 2013 Comprehensive Capital Analysis and
Review (CCAR) and is intended to offset estimated dilution created by
Citi’s annual incentive compensation grants.
Repurchases by Citi under the common stock repurchase program may be
effected from time to time through open market purchases, trading plans
established in accordance with U.S. Securities and Exchange Commission
rules or other means, depending on satisfactory market conditions,
applicable legal requirements and other factors. The common stock
repurchase program does not obligate Citi to repurchase any particular
amount of common stock, and it may be suspended at any time at Citi’s
discretion.
Citi
Citi, the leading global bank, has approximately 200 million
customer accounts and does business in more than 160 countries and
jurisdictions. Citi provides consumers, corporations, governments and
institutions with a broad range of financial products and services,
including consumer banking and credit, corporate and investment banking,
securities brokerage, transaction services, and wealth management.
Additional information may be found at www.citigroup.com
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Certain statements in this press release, including those regarding
Citi’s $1.2 billion common stock repurchase program, are
"forward-looking statements" within the meaning of the rules and
regulations of the U.S. Securities and Exchange Commission. These
statements are based on management's current expectations and are
subject to uncertainty and changes in circumstances. Actual results and
capital and other financial condition may differ materially from those
included in these statements due to a variety of factors, including but
not limited to satisfactory market conditions and any other conditions
that may be included in any Citi common stock repurchase program, as
well as those factors contained in Citi's filings with the U.S.
Securities and Exchange Commission, including the "Risk Factors" section
of Citi's 2012 Annual Report on Form 10-K. Precautionary statements
included in such filings should be read in conjunction with this
release. Any forward-looking statements made by or on behalf of Citi
speak only as to the date they are made, and Citi does not undertake to
update forward-looking statements to reflect the impact of circumstances
or events that arise after the date the forward-looking statements were
made.
