Citigroup (C) will slash the number of common shares outstanding and reintroduce a dividend, taking another step in its long recovery from the brink of failure during the financial crisis. The NY-based bank said it will shrink the number of common shares outstanding to 2.9 billion from 29 billion through a 1-for-10 reverse stock split. It will start paying a quarterly dividend of 1 cent per share in the second quarter. Citi suspended dividend payouts two years ago. – Reuters
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