* CEO pledges to repay 'every dollar' of TARP funds

* CEO says not actively seeking reverse split

* Chairman Parsons says bank focusing on stress test

* Shares rise 10.2 percent (Adds shareholder quotes, other details, closing stock price)

By Dan Wilchins

NEW YORK, April 21 (Reuters) - Citigroup Inc (C.N: Quote, Profile, Research) Chief Executive Vikram Pandit pledged to repay "every dollar" the third-largest U.S. bank owes to the government, which has pumped $45 billion of capital into the bank.

The embattled CEO spoke at an annual meeting that stretched to roughly six hours, where he and lead director Richard Parsons fielded complaints from investors furious about the 94 percent plunge in their shares since the beginning of 2007.

"Your board of directors are too terrible for words -- they're dumb," said Peggy McMahon, who later told Reuters the declining value of her Citi shares resulted in a $250,000 loss.

Citigroup's annual meeting typically lasts hours, but this one was unusually long. The proceedings are usually dominated by small shareholders angry over their experience in retail branches or with their credit cards, but this year investors focused squarely on who was to blame for the dwindling value of their shares.