Citigroup May Pay $64 Billion to Shareholders, Graseck Says
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Citigroup Inc., the third-largest U.S. bank, may distribute as much as $64 billion to shareholders through dividends and buying back shares through 2014, according to Betsy Graseck, a Morgan Stanley analyst.
The bank can afford to increase payouts as the Citi Holdings unit, used to house unwanted assets, shrinks faster than expected and incurs narrower losses than previously estimated, Graseck wrote in a note to clients today, raising her recommendation on the stock to “overweight.”