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Barclays Q2 Profit Surges, Income Edges Up; Declares Dividend, To Buy Back Shares

Barclays Group (BARC.L,BCS) reported Wednesday that its second -quarter Group profit before tax was 2.6 billion pounds, significantly higher than last year's 0.4 billion pounds. Attributable profit was 2.1 billion pounds, higher than last year's 0.1 billion pounds.

Earnings per share were 12.3 pence, up from 0.5 pence last year.

Group income was 5.4 billion pounds, up 1 percent from last year despite currency headwinds.

Further, the company announced half-year dividend of 2.0 pence per share to be paid on September 17.

The company also said it intends to initiate a further share buyback of up to 500 million pounds.

Looking ahead, Barclays expects to deliver a RoTE above 10 percent in 2021.

The company said, "Whilst the macroeconomic environment has improved, the outlook remains uncertain and subject to change depending on the evolution and persistence of the COVID-19 pandemic."

Costs for the year, excluding structural cost actions and performance costs, are expected to be broadly in line with the prior year.

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