Last month, famed Saudi investor Prince Alwaleed, told CNBC that he expected a Citigroup dividend increase “imminently” following some conversations with CEO Vikram Pandit about how the bank was “doing very, very well.”
Given that the Fed just told Pandit and Citi they couldn’t have that dividend increase, the Prince, who owns a major stake, is unlikely to be happy.
CNBC had the foresight to ask what exactly Alwaleed would do if he didn’t get his dividend.
“I’m going to say please give a dividend,” Alwaleed said.
It’s not like Alwaleed was the only one promised a hike, but there you have it. A polite call may be coming.