Citigroup Declares a New Dividend; Yield is 3.9%
Citigroup (NYSE: C) on Thursday became the latest of the Big Four banks to declare a dividend. The company's upcoming quarterly payout will be $0.51 per share, to be dispensed on Aug. 28 to investors of record as of Aug. 3.
That amount matches each of the previous four payouts. Since May 2015, Citigroup had been raising its dividend once every year. However, in the Federal Reserve's 2020 round of bank stress tests, the regulator set limits for third quarter disbursements from large lenders. These are not allowed to exceed the previous quarter's dividend, plus they can't top the the issuer's net profit averaged over the four preceding quarters.
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Source Fool.com
