March 31, 2020 / 8:00 PM / 2 months ago

Barclays, Santander UK halt dividends as coronavirus slowdown looms

LONDON, March 31 (Reuters) - Barclays and the British arm of Spain’s Santander, said they would suspend dividend payments, saving their capital instead as a buffer against expected losses from the economic fallout from the coronavirus.

Barclays said it would not pay any 2020 dividend and also scrapped its planned 2019 payout.

“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,” the bank’s chairman Nigel Higgins said. (Reporting By Lawrence White, Editing by Rachel Armstrong)

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