"Seem to remeber she said that the div pay out ratio was too high."
That is the only thing I would agree with her. Citi is paying more than 5% dividend. If the capital can be allocated better for something else to boost the stock price, I don't think the shareholders would mind a reduction of dividend temporarily.
Also, how many shareholders are waiting for the dividend in each quarter to pay rent, mortgage or food? The dividend is nice to have. But a high stock price seems to be more important.