I just sent a secure message to citibank today and here is what I got for the clarification of the $300 annual cap for the bonus earned by the Citi Dividend card whether it should include the $100 sign up bonus or not:

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Subject: $300 calendar year cap for earning
Date: March 28, 2013 2:42 EST

Dear Citi,

I have earned $281.87 (including $100 sign-up bonus after spending $500). I would like to know if the $300 is based on spending only (i.e. I can earn $118.13 more this year) or does it include the $100 sign-up bonus I had already earn (i.e. I can earn $18.13 more this year)?

Thank you,
jrey

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and here is the response:

Subject: Re: $300 calendar year cap for earning
Date: March 28, 2013 2:59 EST

We received your recent inquiry regarding this offer and we will be happy to try and assist you today.

This new account offer for 100 Dividend Dollars after $500.00 in purchases was not supposed to count toward the 2013 annual cap. However, we just recently became aware that there was a problem and the 100 bonus Dividend Dollars did count toward the cap. We are going to make sure this doesn't negatively impact the number of rewards you earn for 2013, but at this time we do not have an answer about if it will be an adjustment to the cap to allow rewards on future rewards or we are going to issue another $100.00 bonus. I will follow up and send you a letter when we have an answer of when it is fixed and how.

We appreciate your business and value you as our customer.
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I am trying to see if I should put any more spending on the card or not this year. Anyone has any reliable source than this???