C (Citigroup) Message Board

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Non-Tech : C (Citigroup)

C 101.61

+0.4%

9:30 AM EST

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To: JEB who started this subject	7/14/2003 9:59:39 AM
From: JakeStraw	of 259

Citigroup Boosts Quarterly Dividend 75% Monday July 14, 9:20 am ET biz.yahoo.com NEW YORK -(Dow Jones)- Citigroup Inc. (NYSE:C) increased its quarterly dividend 75% to 35 cents from 20 cents, crediting a recent decrease in the dividend tax rate with creating an attractive alternative to stock repurchases. The nation's largest financial institution said in a press release Monday that the dividend is payable Aug. 22 to stockholders of record at Aug. 4. Citigroup, which earlier Monday reported its second-quarter earnings rose 12% on the back of a 63% improvement at retail banking division, said its largest- ever dividend increase is part of an effort to redirect funds from its share- repurchase program. The company said the recent change in the tax law levels the playing field between dividends and share repurchases as a way to return capital to shareholders.

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