Citigroup Declares AUD 1.112 Dividend for CitiFirst Instalment MINI

Dividend Announcement Overview

Citigroup Global Markets Australia Pty Limited has declared a fully franked dividend of AUD 1.112 for its CitiFirst Instalment MINI securities, trading under ASX codes ASXJOB and ASXJOC. This announcement, dated 14 February 2025, sets the record date for entitlement on 24 February 2025, which coincides with the record date for the ASX Ordinary Security. Investors holding these instalment MINI securities will be eligible for the dividend if they are registered by this date.

Key Dates and Trading Implications

The ex-dividend date for the CitiFirst Instalment MINI is scheduled for 21 February 2025, aligning with the ex-dividend date for the underlying ASX Ordinary Security. This synchronization ensures that the dividend entitlement process is streamlined for investors across both securities. Trading on or after this date will be without the dividend entitlement, which typically influences the market price of the securities.

Dividend Payment Timing and Process

The trustee responsible for the CitiFirst Instalment MINI will coordinate the dividend payment to holders to coincide as closely as possible with the receipt of the dividend from the underlying company. The expected payment date is around 21 March 2025. This timing allows for efficient distribution of the dividend proceeds to investors, maintaining alignment with the underlying security’s dividend schedule.

Context and Market Considerations

This dividend declaration reflects Citigroup’s ongoing commitment to providing income opportunities through its structured products. The fully franked nature of the dividend is particularly attractive to Australian investors seeking tax-effective income streams. However, market participants should be mindful of the typical price adjustments that occur around ex-dividend dates, which can affect short-term trading dynamics for the CitiFirst Instalment MINI securities.

Looking Ahead

As the record and ex-dividend dates approach, investors will be closely watching trading volumes and price movements in ASXJOB and ASXJOC. The dividend payment in March will be a key event for holders, potentially influencing demand for these securities in the months ahead. Citigroup’s clear communication of these dates helps maintain transparency and supports informed investment decisions.