NEW YORK - Citigroup Inc (NYSE:C). has declared dividends for both its common and various series of preferred stock. Common stockholders are set to receive $0.56 per share on February 28, 2025, provided they are on record as of February 3, 2025. The quarterly dividend represents a 3.08% yield, with InvestingPro data showing the bank has maintained dividend payments for 14 consecutive years.
The banking institution has also announced dividends on several series of its preferred stock. Payments for these dividends are scheduled on various dates in February and March 2025, with record dates accordingly set in January and February. The dividends on preferred stock range from 3.875% to 7.625%, with corresponding payouts for depositary receipt holders.
For instance, the 6.250% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series T, will pay dividends on February 18, 2025, to stockholders of record as of February 7, 2025. Each depositary receipt holder will receive $31.25 per receipt. Similarly, the 7.625% Fixed Rate Reset Noncumulative Preferred Stock, Series AA, will pay dividends on the same date to those on record by February 7, 2025, with each receipt holder receiving $19.0625.
The dividends reflect Citigroup's commitment to returning value to its shareholders and come amidst the company's position as a prominent banking partner with a significant global footprint. Citigroup operates in over 180 countries, offering a range of financial products and services to a diverse clientele including corporations, governments, and individuals.
Investors and stockholders are encouraged to note the record and payment dates to ensure they meet the eligibility criteria for receiving dividends. The announcement is based on a press release statement from Citigroup Inc.
In other recent news, Citigroup has experienced significant developments in its financial performance and strategic initiatives. Truist Securities initiated coverage of Citigroup with a Buy rating, recognizing the bank's potential for increased profitability and strategic progress. Meanwhile, Keefe, Bruyette & Woods maintained an Outperform rating, forecasting an 18% boost in Citigroup's earnings per share following potential regulatory adjustments.
BofA Securities also reiterated a Buy rating on Citigroup, expressing confidence in the management's path to improved Return on Tangible Common Equity by 2026. Wells Fargo (NYSE:WFC) analysts echoed this sentiment, upgrading their price target for Citigroup to $110 and maintaining an Overweight rating. They anticipate a shift from a period of value destruction to one of value creation for the bank.
Furthermore, Citigroup secured an exclusive 10-year extension with American Airlines (NASDAQ:AAL) to issue the AAdvantage® co-branded card portfolio starting in 2026. This partnership aims to enhance loyalty and rewards programs for both AAdvantage® members and Citi cardholders. These are among the recent developments that have contributed to the positive outlook for Citigroup.
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