Citigroup boosts buybacks, dividends beyond Wall St expectations
Citigroup Inc (C.N) has been granted permission to return nearly $19 billion (14.7 billion pounds) of capital to shareholders after passing a tough regulatory test, a long-awaited victory for investors and Chief Executive Officer Michael Corbat. Citigroup, the fourth-largest U.S. bank by assets, on Wednesday said it plans to repurchase up to $15.6 billion of common stock over the next year and double its quarterly dividend to 32 cents per share, bringing total payouts to $18.9 billion. Analysts had expected Citigroup would win the right to increase payouts to roughly 1.12 percent of annual profits.
Source:: https://finance.yahoo.com/news/citigroup-plans-18-9-billion-205604971.html
