What dividend yield! The yield indicated is a carrot that will never be tendered! Citi is poised for another writedown bombshell when it reports earnings. It never ceases to amaze me that so called "investors" try to catch a falling knife. During the tech burst I saw the same sorry SOB's. I'll wait till the market turns around, then buy on pullbacks. I couldn't care less if I fail to get in near the bottom. For now I'll hold my short position. Looking for the teens after earnings!
I'm with you except I wouldn't touch C, but rather am looking more at JPM. Look, there was a reason Dimon left C while Weil was there. JPM seems to be keeping itself out of this fray. C always seems to have some kind of "smell" with how it conducts it's businesses. JPM is a pretty classy outfit and Dimon is top notch. Go w. good honest management over anything. Hey, think about it, what has Sallie Krawcheck done in her tenure at C? 1st she was in charge of Smith barney, then she became CFO and then was "promoted" back to Smith Barney. This just demonstrates that C continues to Chase (no pun intented) it's tail and have a clubby management. To heck w. C. Go w. Dimon and JPM.
That's what they said last time when it was 7%. Of course that was before they cut/reduced the div and the stock followed. Why not wait till the stock is at $15 and the newly reduced dividend is once agin at 7% Or do you have a more informed insight than the last two groups of value speculators?
Citi right now is operating on capital preservation , billions of write offs - even this giant needs to take a breather and re evauluate its management and entire business.
I won't be surprised if Citi cuts in line with what I just said earlier - then that 6% will be as good as nothing.
Right, that dividend yield has almost no value right now. C becomes a teenager again, somewhere between 10-15/share before they reorganize. IMO, dividend will be cut further or suspended.
No, I'm not a short.
There are much cleaner banks out there now that are paying hugh dividends with much less risk on their balance sheet who have had their share prices trashed a long with Citi's.
Why buy Citi when you can get same yield with less risk elsewhere?