Norris:
We may be approaching a time when Citi’s stock would do better if it
did eliminate the dividend…
Such a cut would save the company $10.8 billion a year. As it happens, that
is just about the amount of the latest writedown.
On the other hand, if Citi abolished its dividend, that might turn the last
remaining bull on the stock bearish. You’ve got to have a bid from somewhere,
right?