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.
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Citigroup Inc. announced a full redemption of $2 billion of its Floating Rate Notes due 2023, effective September 1, 2022. The redemption reflects Citigroup's liability management strategy aimed at improving funding efficiency and capital structure. The redemption price will be par value plus accrued interest, with interest ceasing to accrue from the redemption date. Citigroup continues to evaluate opportunities for redeeming or repurchasing securities based on several factors, including economic value and market conditions.
Citi's Issuer Services has been appointed as the Depositary Bank for the Global Depositary Receipt (GDR) programs of GEM Co., Ltd., Gotion High-tech Co., Ltd., Keda Industrial Group Co., Ltd., and Ningbo Shanshan Co., Ltd. These are the first GDR programs listed under the China-Swiss Stock Connect on the SIX Swiss Exchange. GEM raised US$346 million, Gotion raised US$685 million, Keda raised US$173 million, and Shanshan raised US$319 million through their respective offerings. Each GDR represents multiple A shares from their home exchanges.
Citi has joined the Economic Opportunity Coalition (EOC), launched by the Biden-Harris Administration, to enhance financial inclusion and address economic disparities in the U.S. The coalition aims to align investments from public and private sectors, focusing on underserved communities. Citi has committed over $1 billion in its Action for Racial Equity initiative, totaling $1.1 billion in three years. The EOC will develop products aimed at enhancing economic mobility through investments in community financial institutions.
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The Board of Directors of Citigroup declared a $0.51 quarterly dividend on common stock, payable on August 26, 2022, to stockholders of record by August 1, 2022. Various dividends on preferred stock were also announced, including a 5.950% fixed rate for Series A, payable August 1, 2022, and a 7.125% rate for Series J, payable September 30, 2022. These dividends reflect Citigroup's ongoing commitment to returning value to shareholders.
Citi's new report titled FOOD AND CLIMATE CHANGE -- Creating Sustainable Food Systems for a Net Zero Future reveals hidden costs in the food industry at approximately $11.9 trillion, highlighting its significant environmental impact. The report argues that the food sector is a major contributor to climate change, responsible for 70% of water use and one-third of greenhouse gas emissions. Solutions like regenerative agriculture and low carbon livestock are proposed to mitigate these emissions and improve global food security as we face a projected 56% food gap by 2050.
Citigroup's CFO Mark Mason and Treasurer Michael Verdeschi will host the Second Quarter 2022 Fixed Income Investor Review on July 28, 2022, at 11 a.m. ET. The event will be accessible via live webcast and teleconference, with materials available on their investor relations website. A replay of the call will be available for a week following the event. Citi remains a significant banking partner globally, offering a wide range of financial products across 160 countries.
Citigroup announced the availability of its second quarter 2022 earnings press release on its investor relations website. The report includes detailed financial, statistical, and business-related information. A conference call is scheduled for 11 a.m. ET today, with a live webcast also accessible online. Citigroup, a leading global banking partner, operates in over 160 countries, providing a comprehensive range of financial products and services. For further details, visit their official website.
Citi has been appointed as the Depositary Bank for Ming Yang Smart Energy Group Limited's Global Depositary Receipt (GDR) program, which is linked to an initial public offering raising US$656.9 million. The GDRs are priced at US$21.00 each, and if the over-allotment option is exercised, total proceeds could reach US$706.9 million. Ming Yang aims to position itself as a comprehensive renewable solutions provider, while Citi expresses confidence in enhancing investor access through its global network.