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Barclays Group FY20 Pretax Profit Declines; Group Income Up 1%

Barclays Group (BARC.L,BCS) reported fiscal 2020 profit before tax of 3.06 billion pounds compared to 4.36 billion pounds, prior year. Earnings per share was 8.6 pence compared to 14.1 pence. Excluding litigation and conduct, pretax profit declined to 3.22 billion pounds from 6.21 billion pounds. Excluding litigation and conduct, basic earnings per share was 9.5 pence compared to 24.4 pence.

Fiscal 2020 total income increased to 21.77 billion pounds from 21.63 billion pounds, prior year. Net interest income declined to 8.12 billion pounds from 9.41 billion pounds.

James Staley, CEO, said: "Given the strength of our business, we have decided the time is right to resume capital distributions. We have today announced a total payout equivalent to 5 pence per share, comprising a 1 pence 2020 full year dividend and the intention to initiate a share buyback of up to 700 million pounds. We expect to comment further on capital distributions when appropriate."

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