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FOR IMMEDIATE RELEASE Citigroup Declares Initial Quarterly Dividend New York — Citigroup's Board of Directors today declared the financial-services company's initial regular quarterly dividend on the company's common stock of 18 cents a share (72 cents annualized).The dividend is payable November 25, 1998 to stockholders of record on November 2, 1998. Citigroup Inc. was formed October 8 through the merger of Citicorp and Travelers Group Inc. The dividend rate declared today is approximately midway between the rates paid by the two predecessor companies. The Travelers Group dividend previously was 12 1/2 cents a share a quarter; the Citicorp dividend, adjusted for the 2 1/2-for-one ratio for shares exchanged in the merger, was 23 cents.
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