Citigroup Declares Initial Quarterly Dividend.NEW YORK--(BUSINESS WIRE)--October 20, 1998--Citigroup's board of directors today declared de·clare v. de·clared, de·clar·ing, de·clares v.tr. 1. To make known formally or officially. See Synonyms at announce. 2. To state emphatically or authoritatively; affirm. 3. the financial-services company's initial regular quarterly dividend on the company's common stock of 18 cents a share (72 cents annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. ). The dividend is payable Nov. 25, 1998 to stockholders of record on Nov. 2, 1998. Citigroup Citigroup U.S. holding company formed in 1998 from the merger of Citicorp (itself a holding company incorporated in 1967) and Travelers Group, Inc. The $70 billion merger included one of the largest U.S. investment banks, Salomon Smith Barney Inc. Inc. was formed Oct. 8 through the merger of Citicorp and Travelers Group Inc. The dividend rate declared today is approximately midway Midway, island group (2 sq mi/5.2 sq km), central Pacific, c.1,150 mi (1,850 km) NW of Honolulu, comprising Sand and Eastern islands with the surrounding atoll. Discovered by Americans in 1859, Midway was annexed in 1867. A cable station was opened in 1903. between the rates paid by the two predecessor companies. The Travelers Group dividend previously was 12 1/2 cents a share a quarter; the Citicorp dividend, adjusted for the 2 1/2-for-one ratio for shares exchanged in the merger, was 23 cents. |
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