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FOR IMMEDIATE RELEASE
Citigroup Declares 3-For-2 Stock Split New York — The Board of Directors of Citigroup (NYSE:C) yesterday declared a 3-for-2 split in the company's common stock, in the form of a 50% stock dividend, payable May 28, 1999, to shareholders of record on May 3, 1999. The Board also approved an increase in the quarterly cash common stock dividend from 12 to14 cents per share on a post-split basis (from 18 to 21 cents per share on a pre-split basis), payable May 28, 1999 to shareholders of record on May 3, 1999. For shareholders of the former Travelers Group, this will represent the thirteenth consecutive year of a dividend increase for the company since its founding in 1986. John S. Reed and Sanford I. Weill, Chairmen and Co-Chief Executive Officers, said, "The stock split and the significant increase in the dividend reflects our confidence that the potential of our groundbreaking merger is on its way to becoming a reality. We are pleased with our progress and the results thus far."
# # # Citigroup (NYSE: C), the world's most global financial services company, provides some 100 million consumers, corporations, governments and institutions in 100 countries with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage and asset management. The 1998 merger of Citicorp and Travelers Group brought together such brand names as Citibank, Travelers, Salomon Smith Barney, Commercial Credit and Primerica under Citigroup's trademark red umbrella. Additional information can be found at: www.citi.com. |