Why I'm in No Hurry to Buy Citigroup Stock
When it comes to banking, Citigroup (NYSE: C) has an iconic, dominant brand. However, if you step back and look at the history here, income-focused investors have taken some pretty big hits in the past.
For my money, I'd rather stick with a bank that has a better track record, a stronger financial position, and historically more conservative operations.
Citigroup's dividend yield today is about 4.3%, which is pretty attractive. For reference, U.S. peer Bank of America is offering a yield of just 2.4%. But I wouldn't rush out and buy Citigroup based on that, noting that during the Great Recession, the bank was forced to cut its dividend down to a mere penny a share.
Source Fool.com
