Citigroup Inc. (NYSE:C) Shares Will Pay Quarterly Dividend of $0.67

Key Points

• Citigroup declared a quarterly dividend of $0.67 per share, payable November 25 to shareholders of record November 2. The annualized dividend is $2.68 per share, representing a 2.2% yield.
• The dividend appears well covered, with a current payout ratio of 28.6% and an expected future payout ratio of 20.5% based on projected earnings.
• Citigroup exceeded quarterly earnings expectations, reporting $2.85 EPS versus the $2.66 consensus and $23.84 billion in revenue. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $150.79.

Citigroup Inc. (NYSE:C - Get Free Report) announced a quarterly dividend on Monday, October 19th. Stockholders of record on Monday, November 2nd will be paid a dividend of $0.67 per share on Wednesday, November 25th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, November 2nd.

Citigroup has a payout ratio of 28.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Citigroup to earn $13.09 per share next year, which means the company should continue to be able to cover its $2.68 annual dividend with an expected future payout ratio of 20.5%.

Citigroup Stock Performance

C opened at $121.68 on Tuesday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.00 and a quick ratio of 0.99. The firm has a fifty day moving average price of $132.47 and a 200 day moving average price of $132.00. Citigroup has a 1 year low of $95.00 and a 1 year high of $147.96. The stock has a market cap of $207.53 billion, a P/E ratio of 11.87, a P/E/G ratio of 0.55 and a beta of 1.13.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Tuesday, October 13th. The company reported $2.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.66 by $0.19. The firm had revenue of $23.84 billion for the quarter, compared to the consensus estimate of $23.74 billion. Citigroup had a net margin of 10.97% and a return on equity of 10.57%. During the same period in the prior year, the firm posted $1.86 earnings per share. The firm's quarterly revenue was up 7.9% compared to the same quarter last year. Equities research analysts anticipate that Citigroup will post 11.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on C shares. Oppenheimer lowered shares of Citigroup from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 30th. Bank of America lifted their price target on Citigroup from $170.00 to $176.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Zacks Research cut shares of Citigroup from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 14th. Wall Street Zen lowered shares of Citigroup from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Weiss Ratings lowered shares of Citigroup from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $150.79.

About Citigroup

Citigroup Inc is a global financial services company headquartered in New York City and operates under the Citi brand. The company provides banking, lending, investment, wealth management and other financial services to individuals, businesses, institutions and governments.

Citi's consumer offerings include checking and savings accounts, credit cards, mortgages, personal lending and wealth management services. Through its institutional businesses, the company provides investment banking, commercial banking, securities brokerage, markets and trading, cash management, trade finance and custody services.

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