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Citigroup Shareholders Lose $16 Billion After Reverse Stock Split

June 2, 2011 By Problem Bank List Staff Leave a Comment

On March 21st, Citigroup announced a 1-for-10 reverse stock split, effective May 9, 2011. According to Citigroup CEO Vikram Pandit, “Citi is a fundamentally different company than it was three years ago.  The reverse stock split and intention to reinstate a dividend are important steps as we anticipate returning capital to shareholders starting next year.” […]

Filed Under: Banking News, Citigroup, featured, Mega Banks Tagged With: C, Citi, Citi reverse stock split, citigroup

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