Citigroup Inc. (NYSEARCA:MTY) Files An 8-K Other EventsItem 8.01. Other Events.
On June 28, 2018, the Federal Reserve Board advised Citi that it does not object to the planned capital actions requested by Citi as part of the 2018 Comprehensive Capital Analysis and Review. The planned capital actions include an increase of Citi’s quarterly common stock dividend from $0.32 to $0.45 per share (subject to quarterly approval by Citi’s Board of Directors), as well as a common stock repurchase program of up to $17.6 billion during the four quarters starting in the third quarter of 2018. These planned capital actions total $22.0 billion over the four quarters covered by the 2018 CCAR cycle, which begins in the third quarter of this year.
Repurchases by Citi under the common stock repurchase program may be effected from time to time through open market purchases, trading plans established in accordance with U.S. Securities and Exchange Commission rules, or other means, depending on satisfactory market conditions, applicable legal requirements and other factors. The common stock repurchase program does not obligate Citi to repurchase any particular amount of common stock and it may be suspended at any time at Citi's discretion.
