Citigroup (C) Looking at 2012 For Possible Dividend Reinstatement
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Price: $137.58 +3.15%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.1%
EPS Growth %: +35.2%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.1%
EPS Growth %: +35.2%
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Citigroup, Inc. (NYSE: C) shares saw a little pop this afternoon, following a presentation by CEO Vikram Pandit at the Citi Financial Services Conference today.
Much of the presentation focused on emerging markets and Citi's focus their. Key nations include Korea, Brazil, India, Mexico, and China, among others.
Further more, one of Citi's key long-term financial goals is a ROA of 1.25 - 1.50%, versus 0.90% for 2010. Tier 1 common ratio has increased from 9.1% in Q1110 to 10.8% for Q410.
Furthermore, Pandit noted that Citi would be in a position to return capital to shareholders in 2012. Nothing specific was mentioned, but Citi had a $0.32 quarterly dividend which was cut to $0.16 following the 2008 financial meltdown. Dividend payments were halted after the January 2009 payment, as famously called by analyst Meredith Whitney.
Pandit also noted that Citi Holdings assets would decline, but at a slower pace than before.
The news out of Citi comes just days after Bank of America (NYSE: BAC) said that they were ready to start paying dividends, if the Fed would allow it.
Citi is down 0.2% this afternoon.
Much of the presentation focused on emerging markets and Citi's focus their. Key nations include Korea, Brazil, India, Mexico, and China, among others.
Further more, one of Citi's key long-term financial goals is a ROA of 1.25 - 1.50%, versus 0.90% for 2010. Tier 1 common ratio has increased from 9.1% in Q1110 to 10.8% for Q410.
Furthermore, Pandit noted that Citi would be in a position to return capital to shareholders in 2012. Nothing specific was mentioned, but Citi had a $0.32 quarterly dividend which was cut to $0.16 following the 2008 financial meltdown. Dividend payments were halted after the January 2009 payment, as famously called by analyst Meredith Whitney.
Pandit also noted that Citi Holdings assets would decline, but at a slower pace than before.
The news out of Citi comes just days after Bank of America (NYSE: BAC) said that they were ready to start paying dividends, if the Fed would allow it.
Citi is down 0.2% this afternoon.
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