Economy
Barclays in lending and dividend pledges |
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| Economy | |
| Written by Gary Howes | |
| Thursday, 23 April 2009 | |
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Barclays has said that lending will be split equally between business and private clients. Barclays (LON:BARC) sought to boost market confidence today by revealing that it intends to boost banking to the UK economy by £11bn in the current financial year. The bank also said it sought to recommence paying dividends to its shareholders. John Varley, Chief Executive of Barclays did however say that he expects the recession to last for at least another year. Dividends for third quarter The announcement to pay dividends was announced by Marcus Agius - chairman of Barclays. The bank expects to make a cash payment for the third quarter in the final three months of the fiscal year, with a final dividend payment made in the first quarter of 2010. Barclays shares were unchanged on yesterday's close at 15:50 as the news was digested. Lending extended Varley pledged that UK lending this year would be £11 billion more than the record level achieved at the end of 2008. It is understood that £5.5 billion has been earmarked for personal customers and £5.5 billion for business clients, of which £1.5 billion was previously promised. |
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