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Barclays pulls dividend; Cancels interim payout, buybacks for 2020

By Frank Prenesti

Date: Wednesday 01 Apr 2020

(Sharecast News) - Barclays said it was pulling its final dividend and cancelling interim payouts and share buybacks in response to the impact of the coronavirus pandemic.
The bank on Wednesday said it had taken the decision to help "serve the needs of businesses and households through the extraordinary challenges presented by COVID-19" as it tried to preserve cash. It added that it still intended to publish its first quarter results on or about April 29.

Chairman Nigel Higgins said the bank had a strong capital base, but believed "it is right and prudent, for the many businesses and people that we support, to take these steps now, and ensure that Barclays is well placed to continue doing what we can to help through this crisis".

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