Finally the much-awaited cut will be done !
Now investors need to check their holding to see that Citigroup remains a value play.
From the earnings press release :
"The company, the largest banking group in the US, said revenues during the fourth quarter fell 70% from a year earlier to $7.2bn.....The firm also said that it would be cutting its dividend for the quarter by 41%, from 54 cents to 32 per share, as well as raising $14.5bn by selling securities, which includes the investment from GIC. "
I bought C at $44/shr and I am holding on to it no matter how low it goes.
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