Korea Citibank Decides on Dividend of 114.5 Billion KRW

Korea Citibank Headquarters located in Dae-dong, Jung-gu, Seoul

[Asia Economy Reporter Kim Min-young] Korea Citibank has decided on a cash dividend amounting to approximately 114.5 billion KRW.

According to the financial sector on the 14th, Citibank held a board meeting the previous day and resolved to pay a dividend of 360 KRW per common share and 410 KRW per preferred share.

The total dividend amount is 114,579,175,700 KRW, which is about 44% of the bank's net income of 259.6 billion KRW up to the third quarter of last year.

Currently, COIC (Citibank Overseas Investment Corporation), a subsidiary of the US-based Citigroup and the largest shareholder of Citibank, will receive almost all of the dividends. COIC holds 318,203,520 shares of Citibank stock, accounting for 99.98%.

In the 2017 fiscal year, Citibank paid a total dividend of 93.8 billion KRW. At that time, the common stock dividend payout ratio (cash dividend/net income) was 38.52%, and in 2018, shareholders received an interim dividend of 811.6 billion KRW and a final dividend of 122.5 billion KRW. The common stock payout ratio then was 39.86%. It is reported that this year's dividend payout ratio will be slightly lower compared to previous years.

This dividend will be paid in April after the shareholders' meeting scheduled for the 27th of next month.

This content was produced with the assistance of AI translation services.