Citigroup Declares Dividends and Authorizes Stock Repurchase.Business Editors The Board of Directors of Citigroup (NYSE NYSE See: New York Stock Exchange :C) today declared a quarterly dividend on the company's common stock of 18 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , payable on August 23, 2002, to stockholders of record on August 5, 2002. The Board also approved the repurchase of an additional $5 billion of Citigroup common stock, continuing the company's longstanding program of buying back shares in the market from time to time. As of July 15, 2002, Citigroup had approximately $2.5 billion remaining under the existing repurchase authorization, which was last increased by $5 billion in October 2001. In addition, the Board declared dividends declared dividend A dividend authorized by a firm's board of directors. At the time a dividend is declared, the firm creates a liability for the dividend's payment. on preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. as follows: - Series F, payable September 1, 2002, to holders of record on August 15, 2002. Holders of depositary receipts depositary receipt A negotiable certificate that represents a company's publicly traded debt or equity. Depositary receipts are created when a company's shares or bonds are delivered to a depositary's custodian bank, which instructs the depositary to issue , each representing one-fifth of a full preferred share, will be paid $.795625 for each receipt held. - Series G, payable September 1, 2002, to holders of record on August 15, 2002. Holders of depositary receipts, each representing one-fifth of a full preferred share, will be paid $.776625 for each receipt held. - Series H, payable November 1, 2002, to holders of record on October 15, 2002. Holders of depositary receipts, each representing one-fifth of a full preferred share, will be paid $.778875 for each receipt held. - Series M, payable November 1, 2002, to holders of record on October 15, 2002. Holders of depositary receipts, each representing one-fifth of a full preferred share, will be paid $.733 for each receipt held. - Series Q, payable August 31, 2002, to holders of record on August 15, 2002. Holders of depositary receipts, each representing one-tenth of a full preferred share, will be paid $.296625 for each receipt held. - Series R, payable August 31, 2002, to holders of record on August 15, 2002. Holders of depositary receipts, each representing one-tenth of a full preferred share, will be paid $.296625 for each receipt held. - Series V, payable August 15, 2002, to holders of record on July 31, 2002. Holders of depositary receipts, each representing one-tenth of a full preferred share, will be paid $.7325 for each receipt held. Citigroup (NYSE: C), the preeminent pre·em·i·nent or pre-em·i·nent adj. Superior to or notable above all others; outstanding. See Synonyms at dominant, noted. [Middle English, from Latin prae global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company with some 200 million customer accounts in more than 100 countries, provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Salomon Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. , Banamex, and Travelers. Additional information may be found at: www.citigroup.com. |
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