Citigroup announces stock split and dividend payment
Citigroup Inc. unveiled plans today for a 1-for-10 reverse stock split scheduled to take place after the markets close on May 6. It also revealed its intention to begin paying a quarterly dividend after the reverse split. Several major U.S. banks announced dividends and share buybacks last week after passing the government’s second round of stress tests. JPMorgan Chase & Co., Wells Fargo & Co. and U.S. Bancorp were among the lenders that said they planned to increase dividend payments.
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