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The Oracle of Omaha isn't the only investor likely to benefit from Federal Reserve stress-test results, but his gains have the advantage of scale.
Citigroup Inc has been granted permission to return nearly $19 billion of capital to shareholders after passing a tough regulatory test, a long-awaited victory for investors and Chief Executive Officer Michael Corbat. Citigroup, the fourth-largest U.S. bank by assets, on Wednesday said it plans to repurchase up to $15.6 billion of common stock over the next year and double its quarterly dividend to 32 cents per share, bringing total payouts to $18.9 billion. Analysts had expected Citigroup would win the right to increase payouts to roughly 1.12 percent of annual profits.
Several big banks announced significant increases in their plans to return capital to shareholders.