Not everyone was impressed with the reinstated dividend and reverse stock-split announcement.
“A lot of it was due to the low price, they want to make it more attractive,” said Matt McCormick, a portfolio manager at Cincinnati-based Bahl & Gaynor Investment Counsel, which owns bank stocks but not Citigroup. The reinstated dividend and the reverse split together are “a token,” he said. “It’s not enough for me to express interest in it.”
Vikram dressed as a candy striper and handing out free 100 Grand bars would be a good start though. Would at least get him to think about reconsidering things.
Citi To Resume Dividend [Reuters]