The bank increases its dividend by 12% and reaffirms its stock repurchase program following stress test results.
Citigroup will lift its quarterly dividend to $0.67 per share, a 12% increase, and continue its $30 billion share repurchase program. The move underscores the bank’s focus on returning capital to shareholders after passing regulatory stress tests.
The decision follows the Federal Reserve’s clearance of 32 large banks, including Citigroup, in its annual stress test. The bank’s capital return plan aligns with broader industry trends of boosting shareholder payouts amid stable financial conditions.
No immediate market reaction was disclosed in the announcement.