Welcome to our dedicated page for Citigroup news (Ticker: C), a resource for investors and traders seeking the latest updates and insights on Citigroup stock.
Citigroup Inc. reports developments across a global banking franchise that serves corporations, governments, investors, institutions and individuals in more than 180 countries and jurisdictions. Recurring updates include quarterly results, financial data supplements, segment reporting changes and business activity in Services, Markets, Banking, Wealth and U.S. personal banking.
Citi news also covers capital actions such as common and preferred stock dividends, senior note tender offers and other debt-market transactions. Additional company updates include wealth-management programs, issuer services and depositary receipt mandates handled through Citibank N.A. and related Citi businesses.
Citigroup is set to release its first quarter 2023 earnings today, with a conference call scheduled for 11:00 AM (ET). The earnings report and accompanying Quarterly Financial Data Supplement will be available on Citigroup’s investor relations website. Citigroup operates globally, offering a wide range of financial services to institutions and individuals across nearly 160 countries. The company is recognized as a key banking partner for cross-border needs and a leader in wealth management.
Investors and stakeholders can access the live webcast of the conference call via a provided link, and a replay will be posted shortly after the event. For more information, visit Citigroup's website.
Citi has launched a new Sustainable Time Deposit (TD) solution for U.S. institutional clients, aimed at investing excess cash while supporting sustainability initiatives. This product offers competitive yields and finances projects under Citi's green and social bond frameworks. It expands upon a program introduced last year in Europe, the Middle East, and Asia. Funds deposited will support renewable energy, energy efficiency, and affordable housing projects targeting low-income populations. The Sustainable TD is now available in multiple regions, including the U.S., U.K., and Singapore, as Citi continues to enhance its sustainable cash management solutions.
Citi has been recognized as the Best Global Bank for Cash Management in 2023 by Global Finance Magazine, alongside accolades for being the Best Global Provider of Short-Term Investments/Money Market Funds. The bank received multiple regional awards across liquidity management and payments. In an era of inflation and supply chain challenges, Citi emphasizes the importance of effective cash management for its clients. The awards validate Citi's global liquidity management and commitment to innovation in treasury solutions, aimed at helping clients manage capital risks effectively.
The Board of Directors of Citigroup declared a quarterly dividend of $0.51 per share on its common stock, payable on May 26, 2023, to shareholders of record by May 1, 2023. Additionally, dividends for various preferred stocks were announced, including:
- 5.950% Series A: $21.68327333 payable April 28, 2023
- 5.900% Series B: $22.481325833 payable May 15, 2023
- 5.350% Series D: $26.75 payable May 15, 2023
- 7.125% Series J: $0.4453125 payable June 30, 2023
This demonstrates Citi's commitment to returning value to shareholders.
Citi Securities Services has partnered with Nordnet AB, marking a significant milestone as the first Swedish client to utilize its Citi Securities Lending Access platform. This innovative solution aims to enhance Nordnet's securities lending program, allowing it to reach new markets and client segments. The platform automates the securities lending lifecycle, democratizing access for a broader range of investors. With $26.2 trillion in assets under custody, Citi focuses on supporting clients globally with tailored financial services. The collaboration is expected to boost profitability and diversify revenue streams for Nordnet.
Citi's report highlights a critical mismatch between the global demand for cybersecurity skills and their supply, exacerbated by increasing cyber threats and digitalization. Cyberattack costs are rising, impacting firms' operations and reputations. Between 2015-2021, cyber job postings surged 4.3 times; however, the average U.S. state sees only 2.6 postings per cyber professional, with 11% of the workforce lacking extensive experience. Regulation may incentivize skills investment but can hinder business creation. Companies are advised to integrate cybersecurity into their corporate social responsibility strategies to mitigate risks.
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Citigroup will release its first quarter results on April 14, 2023, at approximately 8 a.m. ET. A live webcast and teleconference to review the results will occur at 11 a.m. ET. Interested parties can access the press release, webcast, and presentation materials through Citi's Investor Relations page. A replay and transcript of the webcast will be available afterwards. To join the live earnings review, call (800) 343-1703 for U.S. participants or (785) 424-1226 for international callers.
Citi’s Issuer Services has been appointed as the Depositary Bank for Fangda Carbon New Material Co., Ltd.'s Global Depositary Receipt (GDR) Program. This program supports Fangda's US$189.86 million initial public offering, with GDRs priced at US$8.63 each. The GDRs are listed on the SIX Swiss Exchange under symbol FDCB, with each representing ten A shares. Citi emphasizes its strong position in managing depositary receipt programs across multiple exchanges.
Citigroup Global Markets Funding Luxembourg S.C.A. has announced an offering of zero coupon guaranteed cash settled exchangeable bonds totaling EUR 375 million, maturing in 2028. These bonds are linked to common shares of L’Oréal SA and will be issued in principal amounts of EUR 100,000 without interest. The bonds will be redeemable at par on 15 March 2028. The exchange price will be set at a 10% premium over the reference share price from 02 March 2023. The issuance is expected to settle on 15 March 2023, and the bonds will be listed on the Frankfurt Stock Exchange. Citigroup acts as joint global coordinator and calculation agent for the offering.