Turnaround as Citigroup commit to dividend

Citigroup today declared it would start paying a dividend again in a move taken as a sign of the extraordinary turnaround in the company's fortunes since its bailout by the US taxpayer.

The bank took a $45 billion bailout during the financial crisis - the biggest of any of the Wall Street banks. Chief executive Vikram Pandit said: "Citi is a fundamentally different company than it was three years ago." It will pay a divi of 1cent a share in the second quarter of this year.