Connect with us

Business

Barclays cancels dividend as profits fall sharply

Avatar

Published

on


Barclays PLC on Thursday announced a significant drop in profit before tax for the fourth quarter of 2020 and said it had suspended its dividend for the year 2019 to preserve capital amid the coronavirus pandemic.

The FTSE-100-listed bank posted a pre-tax profit of £ 646m ($ 895.5m) compared to £ 1.10bn for the period a year earlier. It was expected to record a profit before tax of 285 million GBP, drawn from a compilation of forecasts provided by Barclays.

The UK lender also posted a net profit of £ 220 million against £ 681 million for the same period a year earlier. According to its compilation of forecasts, the bank is expected to post a loss of GBP 17 million.

Credit impairment charges amounted to £ 492m, he added, missing sight of reaching £ 689m write-downs for the quarter.

Total income fell to 4.94 billion GBPGBP, from 5.30 billion GBP for the fourth quarter of 2019. It was expected to decline to 4.81 billion GBP.

The board declared a dividend of 1.0 pence per share, compared to 3.9 pence per share, and announced that the dividend of 6.0 pence per share for 2019 had been suspended. The board was due to declare a dividend of 3.5 pence, according to Barclays’ compilation of forecasts.

The bank ended the period with a ratio of Tier 1 common stock – a key measure of balance sheet strength – of 15.1%. It was to be 14.7%. It posted a ratio of 13.8% over the period of the previous year.

Write to Sabela Ojea at [email protected]; @sabelaojeaguix

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos



picture credit

ExBUlletin

to request, modification Contact us at Here or [email protected]