Barclays resumes dividend payments
The decision to resume payouts came after the bank’s profit fell much less than expected
Stocks impacted: Barclays Group (BARC)
Barclays has resumed shareholder payouts after a year-long hiatus due to the coronavirus pandemic. The company would pay a full-year dividend of one pence per share and buy back 700 million pounds worth of shares. The decision to resume payouts came after the bank’s profit fell by half, much less than expected. As a reminder, the Bank of England requested last year that British lenders suspend payouts to shareholders. The UK lender posted a pretax profit of 646 million compared with 1.10 billion pounds for the year-earlier period versus 285 million pounds expected. Barclays also posted a net profit of 220 million pounds compared with 681 million pounds for the same period a year earlier. Meanwhile, fiscal 2020 total income increased to 21.77 billion pounds from 21.63 billion pounds, and net interest income declined to 8.12 billion pounds from 9.41 billion pounds.
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