Although Citigroup can resubmit its plan for a higher dividend and stock buyback during the next 30 days and despite saying it will "work closely with the Fed to better understand their concerns." the damage has been done. The shares were recently down 5.3% to $47.51. They are down 8.7% year to date.
But look at what happened in 2012, the last time Citigroup failed to get the Fed to approve a shareholder return plan. The shares have almost doubled since then, even with this year's drop. Investors who bought Citigroup shares back then saw potential not realized by the broader market.
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