Citi To Resume Share Buybacks This Quarter
Portfolio Pulse from Benzinga Newsdesk
Citigroup announced plans to resume share buybacks this quarter, following the Federal Reserve's decision to lift restrictions on bank dividends and share repurchases.
May 24, 2023 | 12:32 pm
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Citigroup's decision to resume share buybacks this quarter is expected to have a positive impact on its stock price.
Citigroup's announcement to resume share buybacks comes after the Federal Reserve lifted restrictions on bank dividends and share repurchases. This decision is expected to have a positive impact on Citigroup's stock price, as buybacks typically signal a company's confidence in its financial position and can lead to a reduction in the number of outstanding shares, thereby increasing earnings per share and potentially boosting the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100