The bank confirmed the hike, confirming a total payout of $2.68 per share annually. This distribution is scheduled for August 28 for investors on the books as of August 3. The move aligns with the company's stated intentions from last week, when leadership first signaled the 12% boost alongside their latest quarterly earnings report.
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Citigroup Lifts Quarterly Dividend to 67 Cents
Shareholders of Citigroup will see their quarterly dividend grow by 12%, rising to 67 cents a share from the previous 60-cent payout. The increase, which follows the bank's recent second-quarter financial disclosures, translates to an annual yield of roughly 2% based on Tuesday's closing price of $132.84.
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