Citigroup Declares AUD 2.15 Dividend for COH CitiFirst Instalments

Dividend Announcement and Key Dates

Citigroup Global Markets Australia Pty Limited has declared a partially franked dividend of AUD 2.15 for holders of the COH CitiFirst Instalments, identified by ASX codes COHIOB and COHIOC. The record date for entitlement to this dividend is set for 21 March 2025, aligning with the record date for the COH Ordinary Security. This synchronization ensures that investors holding either security on that date will be eligible for the dividend payment.

The instalments will commence trading ex-dividend on 20 March 2025, one day prior to the record date. This timing is consistent with the ex-dividend date for the COH Ordinary Security, maintaining parity between the two securities in terms of dividend eligibility.

Dividend Payment and Trustee Role

The dividend payment is scheduled to be made around 14 April 2025. The Trustee overseeing the COH CitiFirst Instalments will coordinate the payment to holders as closely as possible with the receipt of the dividend from the underlying company. This approach aims to ensure timely distribution of income to investors, reflecting the underlying cash flows from the COH Ordinary Security.

Implications for Investors

For investors, the announcement confirms a solid dividend yield on the CitiFirst Instalments, which are structured products linked to the COH Ordinary Security. The partial franking credits attached to the dividend may provide additional tax advantages for eligible investors, enhancing the after-tax return on these instalments.

Market participants should note the alignment of record and ex-dividend dates between the instalments and the ordinary shares, which simplifies dividend tracking and trading strategies around these dates. The clear timeline allows investors to plan their positions accordingly, whether seeking income or capital appreciation.

Context within the Financial Services Sector

This dividend declaration by Citigroup Global Markets Australia underscores the ongoing appeal of structured products like CitiFirst Instalments in the Australian financial market. As investors seek diversified income streams, such instalments offer a hybrid exposure combining equity-linked returns with defined income components.

While the announcement is routine, it reinforces the stability and income potential of COH-linked securities, which may attract both income-focused and risk-conscious investors in the current market environment.