Goldman Sachs

Citi Faces 40 Percent Dividend Cut, Merrill to Report Larger Losses: Report 

Goldman Sach analysts said Thursday that Citigroup Inc. may cut its dividend by up to 40 percent as the financial giant faces mortgage-related writeoffs that could total $18.7 billion in the fourth quarter. According to Reuters, who obtained a copy of an investor newsletter penned by Goldman analysts William F. Tanona, Betsy Miller and Neil C. Sanyal, Citigroup will announce write-downs as much as 70 percent greater than the $8 to $11 billion forecast in early November.