Citigroup increases its common stock dividend and initiates a $30 billion share repurchase program for the third quarter.
Citigroup will raise its planned common stock dividend by 12% for the third quarter. The bank also launched a $30 billion share repurchase program, signaling confidence in its capital position.
The financial institution previously paid a lower quarterly dividend, though exact figures for the prior period were not disclosed. The move follows regulatory approvals and aligns with broader sector trends of returning capital to shareholders.
No immediate market reaction was specified in the announcement.