Citigroup: Convertible preferreds unaffected by dividend this month

By Susanna Moon

Chicago, Nov. 8 - Citigroup Inc. said that no adjustment will be made to the terms of its convertible preferred stock because the amount of the dividend to be paid later this month is less than the threshold amount required for an adjustment.

The company announced on Oct. 19 that its board of directors declared a dividend of $0.01 per common share payable on Nov. 23.

The financial services company is based in New York.

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