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Banks cancel dividends
in Savings & investments
11 replies 791 views
Barclays and Lloyd’s have announced today that they are cancelling dividend payments for this year.
31 March 2020
31 March 2020
Barclays PLC (the “Company”)
Suspension of Dividend Payments on Ordinary Shares
In order to help Barclays serve the needs of businesses and households through the extraordinary challenges presented by COVID-19, the Board has decided that for 2020 the Company will not undertake any interim ordinary share dividend payments, accrual of ordinary share dividends, or share buybacks.
In addition, in response to a request from the UK Prudential Regulation Authority and to preserve additional capital for use in serving Barclays’ customers and clients, the Board has agreed to cancel the 6.0p per ordinary share full year 2019 dividend that was due for payment on 3 April 2020. The Board will decide on any future dividend policy and amounts at year-end 2020.
The Company still intends to publish its Q1 2020 Results Announcement on or about 29 April 2020.
Commenting, Nigel Higgins, Chairman, said:
“These are difficult decisions, not least in terms of the immediate impact they will have on shareholders. The bank has a strong capital base, but we think it is right and prudent, for the many businesses and people that we support, to take these steps now,
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