Vikram Pandit Says Citi Will Boost Dividends and Buy Back Shares by 2013

The Wall St. Journal reports in an interview with Citigroup (NYSE:C) CEO Vikram Pandit that the company plans to buy back shares and boost its dividend by 2013.  Despite claims that the company’s fortunes are turning around, its shares have nonetheless remained down for most of the past year, as have its major competitors Bank of America (NYSE:BAC) and Goldman Sachs (NYSE:GS).

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Following is some information about the companies’ shares.

  • Citigroup (NYSE:C): The shares recently traded at $26.43, down $0.57, or 2.15%, on the day.  The shares currently yield 0.15% and have traded in a 52-week range of $23.19 to $51.50.  Its market capitalization is $77.06 billion.  About the company: Citigroup, Inc. is a diversified financial services holding company that provides a broad range of financial services to consumer and corporate customers around the world.  The Company’s services include investment banking, retail brokerage, corporate banking, and cash management products and services.
  • Goldman Sachs (NYSE:GS): The shares recently traded at $97.33, down $2.22, or 2.19%, on the day.  The shares currently yield 1.44% and have traded in a 52-week range of $97.33 to $175.34.  Its market capitalization is $49.23 billion.  About the company: The Goldman Sachs Group, Inc., a bank holding company, is a global investment banking and securities firm specializing in investment banking, trading and principal investments, asset management and securities services.  The Company provides services to corporations, financial institutions, governments, and high-net worth individuals.
  • Bank of America (NYSE:BAC): The shares recently traded at $6.35, down $0.13, or 2.01%, on the day.  The shares currently yield 0.63% and have traded in a 52-week range of $6 to $15.31.  Its market capitalization is $64.35 billion.  About the company: Bank of America Corporation accepts deposits and offers banking, investing, asset management, and other financial and risk-management products and services.  The Company has a mortgage lending subsidiary, and an investment banking and securities brokerage subsidiary.

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