NEW YORK - Citigroup Inc (NYSE:C). has announced dividends for both its common and various series of preferred stock, as decided by the company's Board of Directors. Common stockholders are set to receive a quarterly dividend of $0.53 per share, which will be payable on May 24, 2024, to those on record as of May 6, 2024.
In addition to the common stock dividend, Citigroup has declared dividends on multiple series of preferred stock. These dividends are payable to holders of record on various dates in May 2024, with payment dates ranging from May 15 to June 10, 2024. The dividends for preferred stock vary by series, with rates including 5.350%, 6.300%, 5.950%, 4.000%, 3.875%, 4.150%, 7.375%, and 7.625%.
For instance, holders of the 5.350% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series D, will receive payment on May 15, 2024, with each depositary receipt representing one-thousandth of a full preferred share receiving $22.5865.
Similarly, the 7.625% Fixed Rate Reset Noncumulative Preferred Stock, Series AA, will pay out $19.0625 for each receipt held, with each receipt representing one-twenty-fifth of a full preferred share.
Citigroup is recognized as a leading banking partner for institutions with international operations, a major player in wealth management, and a prominent personal bank in the United States. The financial giant operates in nearly 160 countries and jurisdictions, offering a wide array of financial products and services to a diverse client base, including corporations, governments, investors, institutions, and individuals.
The information regarding the dividends is based on a press release statement from Citigroup Inc.
InvestingPro Insights
Citigroup Inc., a titan in the banking industry, continues to reward its shareholders with consistent dividend payments. According to InvestingPro data, Citigroup boasts a substantial market capitalization of $118.17 billion and has maintained dividend payments for 14 consecutive years, a testament to its commitment to shareholder returns. This consistency is a positive sign for investors looking for stable income streams, especially in the volatile banking sector.
The company's dividend yield stands at an attractive 3.37%, with a recent dividend growth of 3.92%. For investors tracking stock performance, Citigroup has experienced a significant price uptick over the last six months, with a total return of 61.22%. This momentum is reflected in the stock trading near its 52-week high, at 98.34% of the peak price.
InvestingPro Tips suggest that while Citigroup is a prominent player in the Banks industry, it suffers from weak gross profit margins. Additionally, the stock's RSI indicates it may currently be in overbought territory. For those considering a deeper dive into Citigroup's financial health and future prospects, there are 4 additional InvestingPro Tips available at InvestingPro. Use the coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further valuable insights to inform investment decisions.
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