Citigroup Inc - C STOCK NEWS

Citi has been recognized as the Best Global Bank for Cash Management in 2023 by Global Finance Magazine, alongside accolades for being the Best Global Provider of Short-Term Investments/Money Market Funds. The bank received multiple regional awards across liquidity management and payments. In an era of inflation and supply chain challenges, Citi emphasizes the importance of effective cash management for its clients. The awards validate Citi's global liquidity management and commitment to innovation in treasury solutions, aimed at helping clients manage capital risks effectively.

The Board of Directors of Citigroup declared a quarterly dividend of $0.51 per share on its common stock, payable on May 26, 2023, to shareholders of record by May 1, 2023. Additionally, dividends for various preferred stocks were announced, including:

• 5.950% Series A: $21.68327333 payable April 28, 2023
• 5.900% Series B: $22.481325833 payable May 15, 2023
• 5.350% Series D: $26.75 payable May 15, 2023
• 7.125% Series J: $0.4453125 payable June 30, 2023

This demonstrates Citi's commitment to returning value to shareholders.

Citi Securities Services has partnered with Nordnet AB, marking a significant milestone as the first Swedish client to utilize its Citi Securities Lending Access platform. This innovative solution aims to enhance Nordnet's securities lending program, allowing it to reach new markets and client segments. The platform automates the securities lending lifecycle, democratizing access for a broader range of investors. With $26.2 trillion in assets under custody, Citi focuses on supporting clients globally with tailored financial services. The collaboration is expected to boost profitability and diversify revenue streams for Nordnet.

Citi's report highlights a critical mismatch between the global demand for cybersecurity skills and their supply, exacerbated by increasing cyber threats and digitalization. Cyberattack costs are rising, impacting firms' operations and reputations. Between 2015-2021, cyber job postings surged 4.3 times; however, the average U.S. state sees only 2.6 postings per cyber professional, with 11% of the workforce lacking extensive experience. Regulation may incentivize skills investment but can hinder business creation. Companies are advised to integrate cybersecurity into their corporate social responsibility strategies to mitigate risks.

Citigroup will release its first quarter results on April 14, 2023, at approximately 8 a.m. ET. A live webcast and teleconference to review the results will occur at 11 a.m. ET. Interested parties can access the press release, webcast, and presentation materials through Citi's Investor Relations page. A replay and transcript of the webcast will be available afterwards. To join the live earnings review, call (800) 343-1703 for U.S. participants or (785) 424-1226 for international callers.

Citi’s Issuer Services has been appointed as the Depositary Bank for Fangda Carbon New Material Co., Ltd.'s Global Depositary Receipt (GDR) Program. This program supports Fangda's US$189.86 million initial public offering, with GDRs priced at US$8.63 each. The GDRs are listed on the SIX Swiss Exchange under symbol FDCB, with each representing ten A shares. Citi emphasizes its strong position in managing depositary receipt programs across multiple exchanges.

Citigroup Global Markets Funding Luxembourg S.C.A. has announced an offering of zero coupon guaranteed cash settled exchangeable bonds totaling EUR 375 million, maturing in 2028. These bonds are linked to common shares of L’Oréal SA and will be issued in principal amounts of EUR 100,000 without interest. The bonds will be redeemable at par on 15 March 2028. The exchange price will be set at a 10% premium over the reference share price from 02 March 2023. The issuance is expected to settle on 15 March 2023, and the bonds will be listed on the Frankfurt Stock Exchange. Citigroup acts as joint global coordinator and calculation agent for the offering.

Walmart has partnered with Citi to launch the Bridge built by Citi platform, enhancing capital access for its 10,000 U.S. small- and medium-sized business suppliers. This digital platform connects suppliers with over 70 lenders, offering loans up to $10 million. The initiative, promoting diversity in lending, includes more than 20 diverse financial institutions, aiming to strengthen Walmart's Supplier Inclusion initiative and facilitate efficient loan processes. This collaboration aims to improve financial literacy among suppliers and expand funding opportunities essential for their growth.