Yesterday, Citigroup (C) announced that it will reverse stock split of 10-to-1, every 10 shares of its stock will be exchanged for 1 new share as of May 6. This means if today you have 1000 units of C, after May 6, you will have only 100 units of C, but the stock price will reflect accordingly. This reverse stock split exercise will reduces the amount of Citi shares outstanding from 29 billion to 2.9 billion.
Citigroup will also pays a dividend of 1c for every share held. The CEO of Citigroup commented that it will only start pay higher dividend or share buyback in year 2012.
One should not be too worried by this move as it is necessary for Citigroup to reduce the number of outstanding shares for a better future prospect.
Showing posts with label Citigroup. Show all posts
Showing posts with label Citigroup. Show all posts
Tuesday, March 22, 2011
Tuesday, December 14, 2010
Sold Insas @ 0.57 today - 14th December 2010
I just sold my Insas @ 0.57, which I hold since 12th August 2010. Seeing the upside is pretty limited despite the increased volume and share buybacks, I decided to take profit on Insas and reinvest in another counter. The gross profit from Insas stood at 14%.
Touching a little on TWS. Since my entry on TWS last month, it has risen rapidly and hitting a high of 5.80. I'm still holding on this stock as I feel there is still much upside and good earnings to come.
On the NYSE, my Citigroup (C) is doing very well too. It has surpassed 4.80. Sweet !
Touching a little on TWS. Since my entry on TWS last month, it has risen rapidly and hitting a high of 5.80. I'm still holding on this stock as I feel there is still much upside and good earnings to come.
On the NYSE, my Citigroup (C) is doing very well too. It has surpassed 4.80. Sweet !
Thursday, August 26, 2010
Good opportunity to be part of Citigroup (C) shareholders
DJIA fell below 10,000 points briefly in the early trading day and ended with a small positive gain. Even though the DJ managed to close green, the market is still very bearish.
Citigroup (C) closed at 3.68, which is a pretty good entry price. My entry price was 3.82 and I'm holding it tight. I have full confidence in C that I will make some pretty nice gain within a year. Bear in mind, I'm not alone in this. Many fund managers are also buying into C in huge volume. If these billion-dollar investor are not worried, why should I ?
Citigroup (C) closed at 3.68, which is a pretty good entry price. My entry price was 3.82 and I'm holding it tight. I have full confidence in C that I will make some pretty nice gain within a year. Bear in mind, I'm not alone in this. Many fund managers are also buying into C in huge volume. If these billion-dollar investor are not worried, why should I ?
Friday, August 20, 2010
Bought Citigroup (C) - 19 Aug 2010
Finally, the long awaited Citigroup (C) fell to my target buying price, 3.82. It ended 3.79 though, but one must have a target or else one will never be able to buy anything. I've been targeting C for quite some time now but was forced to continually raise my target price in order to match my buying queue. Nevertheless, I'm still happy that I finally own C !
KLSE remained very stubborn in terms of index. Most foreign stock exchange were experiencing correction but not KLSE. However, even though the KLCI is up quite a bit for the week, many counters do not share the same direction. Could this be a window dressing for the upcoming Hari Raya festivals ?
KLSE remained very stubborn in terms of index. Most foreign stock exchange were experiencing correction but not KLSE. However, even though the KLCI is up quite a bit for the week, many counters do not share the same direction. Could this be a window dressing for the upcoming Hari Raya festivals ?
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