Barclays resumes dividend payouts as annual profit halves

Barclays’ annual profit in 2020 fell by half, the bank reported on Thursday, much less than feared as a strong performance by its investment bank offset provisions against bad loans from the economic fallout of the Covid-19 pandemic.

The British bank said it would resume paying dividends of 1 pence per share, as well as returning capital via a £700 million buyback, after lenders halted payouts last year at the request of the Bank of England.

Barclays reported a profit before tax for 2020 of £3.1 billion, well above the average estimate of £1.96 billion from analysts’ forecasts compiled by the bank. – Reuters


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