Barclays Dividends - BARC

Barclays Dividends - BARC

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Barclays Plc BARC London Ordinary Share GB0031348658 ORD 25P
  Price Change Price Change % Stock Price High Price Low Price Open Price Close Price Last Trade
  0.88 0.54% 164.92 166.08 159.82 165.60 164.04 16:12:52
more quote information »
Industry Sector
BANKS

Barclays BARC Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount
01/08/2019InterimGBX431/12/201831/12/201908/08/201909/08/201923/09/20190
21/02/2019FinalGBX431/12/201731/12/201828/02/201901/03/201905/04/20196.5
02/08/2018InterimGBX2.531/12/201731/12/201809/08/201810/08/201817/09/20180
22/02/2018FinalGBX231/12/201631/12/201701/03/201802/03/201805/04/20183
28/07/2017InterimGBX131/12/201631/12/201710/08/201711/08/201718/09/20170
23/02/2017FinalGBX231/12/201531/12/201602/03/201703/03/201705/04/20173
27/07/2016InterimGBX131/12/201531/12/201611/08/201612/08/201619/09/20160
01/03/2016FinalGBX3.531/12/201431/12/201510/03/201611/03/201605/04/20166.5
29/10/20151GBX131/12/201431/12/201505/11/201506/11/201511/12/20150
29/07/20151GBX131/12/201431/12/201506/08/201507/08/201514/09/20150
29/04/20151GBX131/12/201431/12/201506/05/201507/05/201515/06/20150
03/03/2015FinalGBX3.531/12/201331/12/201410/03/201511/03/201502/04/20156.5
30/10/20141GBX131/12/201331/12/201406/11/201407/11/201412/12/20140
30/07/20141GBX131/12/201331/12/201406/08/201408/08/201419/09/20140
06/05/20141GBX131/12/201331/12/201414/05/201416/05/201423/06/20140
11/02/2014FinalGBX3.531/12/201231/12/201319/02/201421/02/201428/03/20146.5
30/10/20131GBX131/12/201231/12/201306/11/201308/11/201313/12/20130
30/07/20131GBX131/12/201231/12/201307/08/201309/08/201313/09/20130
24/04/20131GBX131/12/201231/12/201301/05/201303/05/201307/06/20130
12/02/2013FinalGBX3.531/12/201131/12/201220/02/201322/02/201315/03/20136.5
31/10/20121GBX131/12/201131/12/201207/11/201209/11/201207/12/20120
27/07/20121GBX131/12/201131/12/201208/08/201210/08/201207/09/20120
26/04/20121GBX131/12/201131/12/201202/05/201204/05/201208/06/20120
10/02/2012FinalGBX331/12/201031/12/201122/02/201224/02/201216/03/20126
31/10/20111GBX131/12/201031/12/201109/11/201111/11/201109/12/20110
02/08/20111GBX131/12/201031/12/201110/08/201112/08/201109/09/20110
27/04/20111GBX131/12/201031/12/201104/05/201106/05/201110/06/20110
15/02/2011FinalGBX2.531/12/200931/12/201023/02/201125/02/201118/03/20115.5
09/11/20101GBX131/12/200931/12/201017/11/201019/11/201010/12/20100
05/08/20101GBX131/12/200931/12/201011/08/201013/08/201010/09/20100
30/04/20101GBX131/12/200931/12/201012/05/201014/05/201004/06/20100
16/02/2010FinalGBX1.531/12/200831/12/200924/02/201026/02/201019/03/20102.5
10/11/2009InterimGBX131/12/200831/12/200918/11/200920/11/200911/12/20090
07/08/2008InterimGBX11.530/12/200730/06/200820/08/200822/08/200801/10/200811.5
18/02/2008FinalGBX22.531/12/200631/12/200705/03/200807/03/200825/04/200834
06/08/2007InterimGBX11.530/12/200630/06/200715/08/200717/08/200701/10/20070
19/02/2007FinalGBX20.531/12/200531/12/200609/03/200707/03/200727/04/200731
02/08/2006InterimGBX10.530/12/200530/06/200616/08/200618/08/200602/10/20060
07/02/2006FinalGBX17.431/12/200431/12/200501/03/200603/03/200628/04/200626.6
15/08/2005InterimGBX9.230/12/200430/06/200517/08/200519/08/200503/10/20050
10/02/2005FinalGBX15.7531/12/200331/12/200423/02/200525/02/200529/04/200524
05/08/2004InterimGBX8.2530/12/200330/06/200418/08/200420/08/200401/10/20040
12/02/2004FinalGBX13.4531/12/200231/12/200325/02/200427/02/200430/04/200420.5
07/08/2003InterimGBX7.0530/12/200230/06/200313/08/200315/08/200301/10/20030
13/02/2003FinalGBX1231/12/200131/12/200226/02/200328/02/200328/04/200318.35
01/08/2002InterimGBX6.3530/09/200130/03/200214/08/200216/08/200201/10/20020
14/02/2002FinalGBX10.8831/12/200031/12/200127/02/200201/03/200226/04/200216.63
02/08/2001InterimGBX5.7530/12/200030/06/200115/08/200117/08/200101/10/20010
08/02/2001FinalGBX9.531/12/199931/12/200021/02/200123/02/200130/04/200114.5
03/08/2000InterimGBX530/12/199930/06/200014/08/200018/08/200003/10/20000
15/02/2000FinalGBX8.1331/12/199831/12/199921/02/200025/02/200003/05/200012.5
05/08/1999InterimGBX4.3830/12/199830/06/199916/08/199920/08/199901/10/19990
16/02/1999FinalGBX6.8831/12/199731/12/199822/02/199926/02/199930/04/199910.75
06/08/1998InterimGBX3.8830/12/199730/06/199817/08/199821/08/199807/10/19980

Top Dividend Posts

DateSubject
04/10/2019
15:43
bernie37: During September the Barclays share price rose more than 9%, outperforming both the FTSE 100 and the financial services sector. Barclays opened the month at 137.54p and ended September at 150.40p, a rise of 9.35%. Barclays is one of five FTSE 100 banks, along with HSBC, Lloyds, The Royal Bank of Scotland and Standard Chartered. All five saw market share gains in September. HSBC was up 6.5%, Lloyds up 8.5%, RBS up 12%, and Standard Chartered rose 8%. This made up for the falls they each experienced in August. Temporary progress in US-China trade talks drove the banking sector up on 13 September, with Barclays reaching a high point of 157.3p. Share prices in the banking sector are closely linked to politics, particularly when it comes to topics of trade. That’s why Brexit is forever casting its shadow on the banking stocks and if a no-deal Brexit goes through, then this could again cause the Barclays share price to fall further. Another reason the Barclays share price increased in September was the confidence shielding its dividend, which was previously thought to be at threat of a cut. The realisation that this was safe (for now) helped boost the share price. PPI shadow In 2018 Barclays settled claims that it mis-sold sub-prime loans prior to the financial crisis. This £1.4bn settlement was less than expected and so preempted a plan to buy back shares, which would have been the first time the bank had done this in over 20 years. This £1bn share buyback plan is in place for next year, but there are now worries this may be partially scuppered by the pain of payment protection insurance (PPI). The ongoing PPI refund debacle is still not over and Barclays has said it now expects its PPI compensation bill to be significantly greater than previously expected or accounted for. This resulted in concerns that Barclays will have to cut its share buyback plan in half to make provisions for the PPI refunds it owes. At the end of June, the 329-year-old bank predicted PPI provision of £360m. This has now been raised to between £1.2bn and £1.6bn. The overall cost to the banking industry of PPI refunds now exceeds £50bn. Targets on track After the 2008 financial crisis, a reformed set of international standards was created to review and monitor the capital adequacy of banks. Part of that is Common Equity Tier 1 (CET1), which is a precautionary way to protect the economy from another financial crisis. Barclays management says it is on target to meet its CET1 ratio goal of 13% for this year. It has a trailing price-to-earnings ratio (P/E) of 8 times, which in normal circumstances would seem like a bargain, but this is not new for Barclays and even a low P/E hasn’t stopped the stock from falling in the past. There are worries the dividend yield could be impacted if a recession rears its ugly head, or political tensions escalate. As far as banks go, Barclays has been performing better than Lloyds, but I see the sector as extremely vulnerable right now and therefore consider it risky for new investors.
22/8/2019
21:00
bernie37: While the income returns on Cash ISAs may have improved over recent months, they offer an average interest rate of just 1%. Since this rate of return is behind inflation, it means that your savings could be losing their spending power. By contrast, the FTSE 100 offers a variety of companies that have improving income prospects. When purchased in a Stocks and Shares ISA or a SIPP, they could deliver impressive long-term income prospects. With that in mind, here are two large-cap shares that could deliver improving dividend investing prospects. Compass Group While support services company Compass Group (LSE: CPG) may offer a dividend yield of just 1.9% at the present time, its potential to rapidly raise dividends is high. In the last four years, for example, the company has been able to increase shareholder payouts at an annualised rate of over 9%. This growth rate has been catalysed by the company’s rising bottom line, with its net profit increasing at a double-digit pace in all but one year during the period. Compass Group offers a high degree of consistency in terms of its financial performance. This is partly due to its geographical diversity, with it having exposure to a wide range of markets that reduce its overall risk. Looking ahead, the company is expected to post a rise in net profit of 9% in the current year. This is forecast to lead to an increase in dividends per share of around 6%, which is significantly above inflation and suggests that the company’s income investing prospects could improve over the long run. Barclays Another FTSE 100 stock that is expected to deliver a rising dividend over the long run is Barclays (LSE: BARC). Although its dividend was cut by more than 50% in 2016 in order to strengthen its financial position, the company has subsequently decided to increase dividends at a rapid rate. In the last financial year, for example, dividends increased from 3p per share to 6.5p per share. Further growth is expected in the current year, with the company’s dividends per share expected to reach 7.9p. This puts the stock on a forward yield of 5.7% after what has been a disappointing period for its share price. While there may be further uncertainty ahead for Barclays and the wider banking sector due to risks such as a global trade war and Brexit, the company’s income investing prospects appear to be improving. Since the stock trades on a price-to-earnings (P/E) ratio of around 6 and is expected to post a rise in net profit in the current year, it may offer a favourable risk/reward ratio. While it may not have a strong track record of dividend growth and remains an unloved stock among investors, the long-term dividend growth potential of the business may prove to be relatively high.
04/8/2019
19:03
bernie37: If you’re tempted by the Barclays (LSE: BARC) share price, I can’t blame you. The stock looks deeply undervalued at current levels and seems to be one of the most hated banking stocks in the UK right now — even though profits are rising. Earlier this week, the bank reported its highest profit for the first half of its financial year in nine years. Underlying profitability, which strips out the effects of one-off charges and other costs, hit £3.1bn. Attributable profit came in at £1bn and earnings per share for the six months were 12.6p. Stronger business Barclays’ other profitability and quality metrics improved markedly in the first half of 2019. Group return on tangible equity came in at 9.3%. Meanwhile, its Tier 1 capital ratio increased by 40 basis points to 13.4%, substantially above its base requirement. Considering its position and surging profits, management decided to increase the bank’s interim dividend by 20% year-on-year to 3p per share. Considering all of the above, it’s not clear to me why the market continues to place such a low multiple on the Barclays share price. Indeed, at the time of writing, shares in the bank are trading at forward P/E of less than 7 and a price to tangible book value of just 0.5. Based on current City forecasts, the stock also supports a forward dividend yield of 4.9%. Companies only really deserve to trade at a discount to book value if they’re unprofitable and losing money for shareholders, which isn’t the case with Barclays. A near double-digit return on tangible equity for the full year would make the bank one of the most profitable in Europe on this metric. Also, the bank’s earnings per share are on track to grow by around a fifth this year, assuming there are no substantial adverse developments during the second half. That said, there’s the prospect of Brexit in the second half. A messy exit could destabilise the UK economy and, as one of the largest lenders in the UK, Barclays’ business. As we still don’t know what form Brexit will take, this is the big unknown that’s overhanging the bank and its share price. A positive outcome However, while a no-deal Brexit might upset the UK economy and cost Barclays some money, unless there’s a severe economic crash, I think the bank has what it takes to weather near-term economic instability. At the same time, there could be tremendous upside on offer for shareholders if a deal is agreed before the end of October. Weighing up these two scenarios leads me to conclude that Brexit might not be as big an issue for the firm as the market seems to be anticipating. With this being the case, I think the Barclays share price looks undervalued at current levels and could be worth your research time if you’re looking for an undervalued bank with a market-beating dividend yield.
25/6/2019
14:15
bernie37: The last time I covered the Barclays (LSE: BARC) share price, I concluded that, despite all of the problems facing the business, the stock could ultimately be worth 80% more than its value at the time “when Barclays finally gets its act together.“ More than a month on, and I still believe shares in the bank could double from current levels, even though activist investor Edward Bramson recently failed in his attempt to get Barclays’ management to shake up the business and prioritise shareholder returns. Legal troubles There’s no denying the bank has struggled to recover from the financial crisis. Even though a decade has passed since the entire UK banking sector was brought to the brink, Barclays just hasn’t been able to shake off its past issues. Indeed, only a few weeks ago, it was fined €210m by the EU for its part in a foreign exchange cartel. It seems to me as if investors just can’t get past the constant string of lawsuits and fines Barclays appears to be facing. And I can’t blame them. However, these issues are also camouflaging the fact there’s a fundamentally strong business under all of the problems, which is producing fantastic profits. Last year, for example, the bank reported a net income from operations of £2.2bn. This year, analysts have pencilled in a net profit of £3.8bn. So far, there seems to be little reason to doubt the City’s growth projections for the firm. CEO Jes Staley is targeting a return on tangible equity (a measure of profitability) of more than 9% for 2019, and 10% for 2020. Insiders have described this goal as “sacrosanct221; and Staley isn’t taking any prisoners in his quest to meet the target. Back in April, it was revealed he is planning to cut bonuses as part of a cost-cutting drive to boost returns at the underperforming investment division, a drastic decision that has risked staff ire. Nonetheless, it’s clear the bank needs to take these actions if its ever going to pull itself out of the doldrums. Undervalued Only time will tell if I’m correct in my assertation that the Barclays share price could double from current, but I reckon the odds are in my favour. Even if earnings stay where they are for the next 10 years, there’s still a good chance the stock could double as, right now, it’s dealing at a historical P/E of just 6.8 and price to book ratio of 0.4. By comparison, shares in international peer HSBC command a P/E of 11.4 and deal at a book value of one. And as well as earnings growth, the City is expecting Barclays’ dividend to rise a double-digit percentage this year as well. After cutting the distribution to save money in 2016, management decided to double the payout in 2018, and analysts believe an increase of 15% is on the cards for 2019. If this comes to fruition, the stock will end the year with a dividend yield of 5%. So, overall, not only is the Barclays share price deeply undervalued compared to its peers, but it also supports a market-beating dividend yield, so there’s something for everyone.
10/6/2019
11:52
bernie37: APR 2019 Barclays vs Lloyds Barclays and Lloyds are the key banks in the UK sector and despite some similarities there is also glaring differences. I often get asked by clients, which is the better of the two? One is the “boring” but steady and the other is “exciting̶1;,but can also be unstable. In this report I have looked at the pair and drawn up some key comparisons. Both have caused investors huge frustrations over recent years but both for very different reasons. Barclays Plc (BARC) Yield 4.32% Identity Crisis There’s no doubting that Barclays has some great businesses when you scratch the surface. It is of course one of the UK’s big four banks with over 23 million customers. It’s also the UK’s leading issuer of credit cards, the leading stockbroker, a leading wealth manager and has a leading investment bank. It is fair to say that Barclays is not the global bank it once was. With the exception of the US, it has largely retreated from foreign markets. Only a few years ago it had major operations in Europe and Africa in particular, but these have been sold off. What we have left is a UK-US focused bank. Expansion is no longer the name of the game. Today it’s all about profits and dividends. Prized Asset One thing that sets Barclays apart from the UK’s other big four banks is its large and sometimes successful investment bank. Investment banking is seen as the riskier but more lucrative cousin of retail banking. Instead of mortgages and current accounts, it involves things like advice on takeovers, raising debt and equity for large corporations and trading of bonds and shares. Barclays is the only British bank to make serious headway in investment banking, boosted by its opportunistic buy of Lehman Brothers core business during the financial crisis. This gave Barclays a leg up to compete with Wall Street’s titans such as Goldman Sachs and Morgan Stanley. Becoming a major player has not come easy or cheap, so it’s understandable why Barclays is reluctant to part with one of its best assets, even if it is unfashionable. While investment banking adds extra volatility to earnings it can also generate mega-money in good times – on a scale that retail banking can never do. While investment banking adds extra volatility to earnings it can also generate mega-money in good times, on a scale that retail banking can never do. And those worried about another financial crisis should note that Barclays has been the first of the major British banks to successfully ring-fence its UK retail operations. The Revolving Door Shareholders like stable leadership and a clear strategy, which is fair enough, but in the last decade, Barclays has provided neither. Barclays vs Lloyds 01 www.atlanticmarkets.co.uk Since 2011, Barclays has had four different CEOs. The principal reason for the high turnover of CEOs has been a continuous series of scandals. As we know, whenever there is a big scandal, the media and politicians call for someone’s head, and in Barclay’s case, that’s been the CEO. Even the current CEO, Jes Staley, has been lucky to survive several scandals. As you’d expect, every CEO has had his own vision for Barclays and has set about making it happen, only to be replaced before he gets the job done. The new guy has then come in and taken the bank in a different direction. While there are no guarantees the present CEO will be around for the long-term, the hope is that the Board of Directors understands that the share price has been hampered by the lack of continuity, so will endeavour to create more stable leadership. Even if it has yet to be rewarded, the new strategy for Barclays seems a lot less complicated. A focus on transatlantic operations will be much easier to understand and manage. We’ve noted that Barclays is now taking a leaf out of Lloyd’s book and continuously using the words simple and straightforward. I don’t think Barclays will ever be a simple as Lloyds, but nor should it try to be. It’s got a better spread of assets and products. You can’t be simple and diversified at the same time. Lloyds Bank (LLOY) Yield 6.19% Lloyds is back to doing what it does best – current accounts, mortgages, personal and business loans, life insurance...sound dull? Thank goodness. Fund managers in the City used to mockingly call Lloyds “the world’s most boring bank”, who knew that would become a compliment. It’s taken many years for Lloyds to recover from the financial crisis, not only financially, but also on a reputational level. As we know, Lloyds made a near fatal error when it bought HBOS in the thick of the fog back in 2008. In the four years that followed, the HBOS side of the business would incur a mammoth £45 billion of loan impairments in addition to £10 billion from the Lloyds side. It was enough to bring any financial institution to its knees and Lloyds was forced into a £20 billion government bailout. The UKs First ‘SuperbankR17; Bailout aside, the purchase of HBOS propelled Lloyds to become the UK’s first ‘super bank’. Bear in mind, if the acquisition had taken place in ordinary times, such a major move would have faced tremendous opposition and likely to have been blocked altogether by competition regulators. Together, the two banks had relationships with four out of ten consumers. The timing of the deal was terrible, but the cost savings have been tremendous. The initial aim was to achieve a target of £1 billion of annual cost savings, but it wasn’t long before this was revised up to £1.5 billion, then to over £2 billion. Road to Recovery Lloyds continues to make progress with a strong start to the Group’s latest strategic plan and the planned integration of Zurich and MBNA and launch of Lloyds Bank Corporate Markets all Barclays vs Lloyds 02 www.atlanticmarkets.co.uk going to plan. The biggest appeal for the potential share buyer is the recent increase to the interim ordinary dividend. This and the overall Improved guidance offer investors some respite and positivity to look forward to. One thing that Lloyds has long been known for is its ability to keep a tight rein on costs, and that’s where a lot of the profit improvement is coming from. Lloyds has the lowest cost base of the big four banks. It also has a very strong capital position, more than double the minimum allowable level. What’s more, Lloyds has no net reliance on wholesale funding – meaning it’s self-funded. PPI Pay-outs The total PPI provisions for Lloyds now stands at a staggering £19.4bn since 2011. The compensation payments have been so vast that the Financial Times mockingly referred to Lloyds as “a cash dispenser to the people”. On the bright side, it’s a big achievement that Lloyds’ has been able to pay out billions in compensation and not only survive, but resume making good profits. Given the strength of the underlying business, it shouldn’t be too long before Lloyds switches over to being a cash dispenser to its shareholders. How They Compare Lloyds is a better run business with a far superior cost to income ratio. It is also safer with a substantially higher capital ratio. It offers investors an attractive and growing dividend yield at a modest forecast PE ratio. While its business has a narrow focus, it is the UK’s most straightforward bank. In short, it’s an income play with good upside potential. The net asset value per share is not so appealing to investors compared to Barclays. Lloyds NAV (exc intangibles) is 55.51p compared to Barclays far more appealing 318.58p. Barclays has a lot of catching up to do. Its costs are way too high, and its capital could do with a boost. Both of these points are being addressed. The recent dividend increases are now appealing to the income investor, but this has weighed on the company’s overall dividend cover. Barclays dividend cover is 1.45 compared to a healthier cover for Lloyds at 1.71. The biggest attraction of Barclays is its deep discount to net assets. The dividend cover does also offer investors the comfort. There’s a lot of potential upside that could be unlocked if the management team can run the business in a cohesive and consistent manner. For investors prepared to take a longer view, Barclays is a bargain. Barclays vs Lloyds 03
02/6/2019
12:15
bernie37: Article from motley fool uk 2019 The last time I covered the Barclays (LSE: BARC) share price, I concluded that, despite all of the problems facing the business, the stock could ultimately be worth 80% more than its value at the time “when Barclays finally gets its act together.“ More than a month on, and I still believe shares in the bank could double from current levels, even though activist investor Edward Bramson recently failed in his attempt to get Barclays’ management to shake up the business and prioritise shareholder returns. Legal troubles There’s no denying the bank has struggled to recover from the financial crisis. Even though a decade has passed since the entire UK banking sector was brought to the brink, Barclays just hasn’t been able to shake off its past issues. Indeed, only a few weeks ago, it was fined €210m by the EU for its part in a foreign exchange cartel. It seems to me as if investors just can’t get past the constant string of lawsuits and fines Barclays appears to be facing. And I can’t blame them. However, these issues are also camouflaging the fact there’s a fundamentally strong business under all of the problems, which is producing fantastic profits. Last year, for example, the bank reported a net income from operations of £2.2bn. This year, analysts have pencilled in a net profit of £3.8bn. So far, there seems to be little reason to doubt the City’s growth projections for the firm. CEO Jes Staley is targeting a return on tangible equity (a measure of profitability) of more than 9% for 2019, and 10% for 2020. Insiders have described this goal as “sacrosanct221; and Staley isn’t taking any prisoners in his quest to meet the target. Back in April, it was revealed he is planning to cut bonuses as part of a cost-cutting drive to boost returns at the underperforming investment division, a drastic decision that has risked staff ire. Nonetheless, it’s clear the bank needs to take these actions if its ever going to pull itself out of the doldrums. Undervalued Only time will tell if I’m correct in my assertation that the Barclays share price could double from current, but I reckon the odds are in my favour. Even if earnings stay where they are for the next 10 years, there’s still a good chance the stock could double as, right now, it’s dealing at a historical P/E of just 6.8 and price to book ratio of 0.4. By comparison, shares in international peer HSBC command a P/E of 11.4 and deal at a book value of one. And as well as earnings growth, the City is expecting Barclays’ dividend to rise a double-digit percentage this year as well. After cutting the distribution to save money in 2016, management decided to double the payout in 2018, and analysts believe an increase of 15% is on the cards for 2019. If this comes to fruition, the stock will end the year with a dividend yield of 5%. So, overall, not only is the Barclays share price deeply undervalued compared to its peers, but it also supports a market-beating dividend yield, so there’s something for everyone.
15/4/2019
16:31
bernie37: Edward Bramson's stalking of Barclays bank reaps him £7m in fees since securing support from investors Bramson is trying for a place on Barclays' board at its shareholder meeting He helped build a 5.5% stake in the bank with backing from major institutions Bramson will earn a hefty fee from the vehicle he set up to buy his Barclays stake By HELEN CAHILL, FINANCIAL MAIL ON SUNDAY PUBLISHED: 21:57, 13 April 2019 | UPDATED: 10:45, 14 April 2019 e-mail 6 View comments Bramson is trying to win a place on Barclays' board at its annual shareholder meeting Bramson is trying to win a place on Barclays' board at its annual shareholder meeting The corporate raider stalking Barclays bank has made himself an estimated £7million in fees since securing support from investors, according to an analysis seen by The Mail on Sunday. Edward Bramson is trying to win a place on Barclays' board at its annual shareholder meeting on May 2 after building a 5.5 per cent stake in the bank. He raised the funds for the investment from major institutions such as Aviva, Fidelity and Invesco. But it has now emerged that Bramson will earn a hefty fee for his work managing Sherborne Investors Guernsey C, the name of the vehicle he set up to buy his Barclays stake. Bramson earns fees even if he does not secure a board seat at Barclays or execute his turnaround plan. RELATED ARTICLES Previous 1 Next Can it get any worse for Centrica shareholders? Dividend... Finding a replacement for Bank of England boss Mark Carney... Taxi app founder Travis Kalanick poised to join the Uber... Spend it like Meghan (well, maybe not quite): From gender... SHARE THIS ARTICLE Share In an attack on the bank's management last week, he said the decline in Barclays' share price was not solely to do with Brexit. He also warned that Barclays' commitment to its investment bank was 'untenable' and that the bank may need to raise new capital if there was a downturn. In a letter to shareholders, Sherborne said: 'We believe the market's evaluation of Barclays' shares reflects the growing risks that the corporate and investment bank poses to Barclays' overall financial position – and that the market does not share the board's optimism that the hidden merits of its strategy will eventually become apparent.' The activist investor's fees are partly tied to how Barclays' share price performs. Payments will rise further if he secures a seat as an executive director or chairman. Barclays last week admitted that it was 'dissatisfied' with its recent share price performance +1 Barclays last week admitted that it was 'dissatisfied' with its recent share price performance Barclays last week slammed Bramson's letter. The bank admitted that it was 'dissatisfied' with its recent share price performance. But it said Bramson's presence on the board would be destabilising. It added: 'Mr Bramson is not someone the board believes will help either as a board member or as a colleague. 'We believe his letter demonstrates a preconceived viewpoint and a poor understanding of Barclays and its corporate and investment bank. 'Mr Bramson misunderstands the drivers of that business and his analysis is based on a flawed understanding of complex banking organisations and reaches conclusions that are inconsistent with the data.' Bramson is expected to continue his campaign even if he does not win shareholder support in next month's vote. The activist investor normally holds an investment for a period of 28 months, so he could earn as much as £12million in fees even if he does not gain a seat on the Barclays' board. Barclays and Sherborne declined to comment.
26/3/2019
13:50
portside1: hares"). 1. On 8 March 2019 the Company granted conditional awards to acquire Shares under: a. the Barclays Long Term Incentive Plan ("LTIP"); b. the Barclays Group Share Value Plan ("SVP"); and c. the Barclays Group Deferred Share Value Plan ("DSVP"), in respect of the deferred Share portion of PDMRs' variable remuneration for 2018. These awards are subject to continued employment over the deferral period and, in the case of the LTIP, also to the satisfaction of performance conditions over the 3 year performance period (2019 - 2021). Director/ PDMR SVP/DSVP LTIP Total Gross Gross value Net value (Shares) (Shares) (Shares) at award at award (GBP) (GBP) Jes Staley 443,951 2,681,618 3,125,569 GBP3,956,200 n/a ------------------------- ---------- ------------ -------------- ---------- Tushar Morzaria 220,968 1,806,625 2,027,593 GBP2,549,000 n/a ------------------------- ---------- ------------ -------------- ---------- Paul Compton 1,592,332 1,592,332 GBP2,075,000 n/a ------------------------- ---------- ------------ -------------- ---------- Bob Hoyt 1,132,127 1,132,127 GBP1,560,469 n/a ------------------------- ---------- ------------ -------------- ---------- Laura Padovani 225,828 225,828 GBP277,500 n/a ------------------------- ---------- ------------ -------------- ---------- Tristram Roberts 618,319 618,319 GBP800,000 n/a ------------------------- ---------- ------------ -------------- ---------- Tim Throsby 2,340,536 2,340,536 GBP3,050,000 n/a ------------------------- ---------- ------------ -------------- ---------- Ashok Vaswani 901,682 901,682 GBP1,175,000 n/a ------------------------- ---------- ------------ -------------- ---------- C.S. Venkatakrishnan 805,758 805,758 GBP1,050,000 n/a ------------------------- ---------- ------------ -------------- ---------- Total 8,281,501 4,488,243 12,769,744 GBP16,493,169 n/a ------------------------- ---------- ------------ -------------- ---------- The number of Shares awarded is based on the 10 a.m. Share price on the London Stock Exchange on 8 March 2019 of GBP1.5952, discounted to the spot rate at grant to reflect the absence of dividend equivalents during the deferral period. 2. On 8 March 2019 the trustee of the Barclays Group (PSP) Employees' Benefit Trust ("Trustee") notified the Company that on that date it delivered Shares in respect of the delivery of the non-deferred Share portion of PDMRs' variable remuneration for 2018 performance year (the Share Incentive Award (Holding Period) Shares ("SIA (HP)")). The Shares are subject to a 12 month holding period during which they cannot be charged, pledged, transferred or otherwise encumbered. Director/ PDMR Gross - SIA Net - SIA Gross value Net value (HP) (Shares) (HP) (Shares) (GBP) (GBP) Jes Staley 125,376 53,072 GBP200,000 GBP84,660 ------------------------- --------------- ------------- ----------- Tushar Morzaria 125,376 66,450 GBP200,000 GBP106,001 ------------------------- --------------- ------------- ----------- Paul Compton 125,376 55,580 GBP200,000 GBP88,661 ------------------------- --------------- ------------- ----------- Bob Hoyt 125,376 66,450 GBP200,000 GBP106,001 ------------------------- --------------- ------------- ----------- Laura Padovani 115,972 61,466 GBP185,000 GBP98,051 ------------------------- --------------- ------------- ----------- Tristram Roberts 125,376 66,450 GBP200,000 GBP106,001 ------------------------- --------------- ------------- ----------- Tim Throsby 125,376 66,450 GBP200,000 GBP106,001 ------------------------- --------------- ------------- ----------- Ashok Vaswani 125,376 66,450 GBP200,000 GBP106,001 ------------------------- --------------- ------------- ----------- C.S. Venkatakrishnan 125,376 61,410 GBP200,000 GBP97,961 ------------------------- --------------- ------------- ----------- Total 1,118,980 563,778 GBP1,785,000 GBP899,339 ------------------------- --------------- ------------- ----------- The number of Shares delivered is based on the 10 a.m. Share price on the London Stock Exchange on 8 March 2019 of GBP1.5952. 3. On 8 March 2019 the Trustee notified the Company that on that date it delivered Shares in respect of the quarterly payment of the Share element of PDMRs' fixed remuneration for the three month period to 31 March 2019. The Shares are subject to a holding period with restrictions lifting in equal tranches over five years (20% each year). Director/ PDMR Gross - Fixed Net - Fixed Gross value Net value Pay (Shares) Pay (Shares) (GBP) (GBP) Jes Staley 184,146 77,950 GBP293,750 GBP124,346 -------------------------- -------------- ------------- ------------- Tushar Morzaria 129,294 68,526 GBP206,250 GBP109,313 -------------------------- -------------- ------------- ------------- Paul Compton 172,392 76,422 GBP275,000 GBP121,908 -------------------------- -------------- ------------- ------------- Bob Hoyt 148,884 78,909 GBP237,500 GBP125,876 -------------------------- -------------- ------------- ------------- Laura Padovani 70,524 37,378 GBP112,500 GBP59,625 -------------------------- -------------- ------------- ------------- Tristram Roberts 113,622 60,220 GBP181,250 GBP96,063 -------------------------- -------------- ------------- ------------- Tim Throsby 344,784 182,736 GBP550,000 GBP291,500 -------------------------- -------------- ------------- ------------- Ashok Vaswani 129,294 68,526 GBP206,250 GBP109,313 -------------------------- -------------- ------------- ------------- C.S. Venkatakrishnan 168,474 82,519 GBP268,750 GBP131,634 -------------------------- -------------- ------------- ------------- Total 1,461,414 733,186 GBP2,331,250 GBP1,169,578 -------------------------- -------------- ------------- ------------- The number of Shares delivered is based on the 10 a.m. Share price on the London Stock Exchange on 8 March 2019 of GBP1.5952. 4. On 8 March 2019 the Trustee notified the Company that on that date it delivered Shares in respect of the release of Share awards granted in prior years (including the buy-out of former-employer awards forfeited on joining Barclays) under: a. the LTIP; b. the SVP; c. Schedule 1 to the SVP (the "JSVP"); d. the DSVP; and e. Schedule 1 to the DSVP (the "JDSVP"). Director/ SVP/DSVP JSVP/JDSVP LTIP 2016-2018 Total Total Gross Net value PDMR (Shares) (Shares) (Shares) Gross net (Shares) value (GBP) (Shares) (GBP) Tushar Morzaria 90,671 0 529,660 620,331 328,776 GBP989,552 GBP524,463 ---------- ----------- --------------- ---------- -------------- ------------- ------------- Paul Compton 420,527 924,199 0 1,344,726 596,118 GBP2,145,107 GBP950,927 ---------- ----------- --------------- ---------- -------------- ------------- ------------- Bob Hoyt 239,921 0 0 239,921 127,159 GBP382,722 GBP202,844 ---------- ----------- --------------- ---------- -------------- ------------- ------------- Laura Padovani 21,257 0 0 21,257 11,267 GBP33,909 GBP17,973 ---------- ----------- --------------- ---------- -------------- ------------- ------------- Tristram Roberts 136,814 0 0 136,814 72,512 GBP218,246 GBP115,671 ---------- ----------- --------------- ---------- -------------- ------------- ------------- Tim Throsby 0 2,252,440 0 2,252,440 1,193,793 GBP3,593,092 GBP1,904,339 ---------- ----------- --------------- ---------- -------------- ------------- ------------- Ashok Vaswani 194,015 0 0 194,015 102,828 GBP309,493 GBP164,031 ---------- ----------- --------------- ---------- -------------- ------------- ------------- C.S. Venkatakrishnan 0 393,884 0 393,884 192,925 GBP628,324 GBP307,754 ---------- ----------- --------------- ---------- -------------- ------------- ------------- Total 1,103,203 3,570,523 529,660 5,203,388 2,625,378 GBP8,300,445 GBP4,188,005 ---------- ----------- --------------- ---------- -------------- ------------- ------------- The number of Shares delivered is based on the 10 a.m. Share price on the London Stock Exchange on 8 March 2019 of GBP1.5952. Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Jes Staley -------------------------- --------------------------------------------- 2 Reason for the notification ------------------------------------------------------------------------- a) Position/status Group Chief Executive Officer -------------------------- --------------------------------------------- b) Initial notification Initial notification /Amendment -------------------------- --------------------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ------------------------------------------------------------------------- a) Name Barclays PLC -------------------------- --------------------------------------------- b) LEI 213800LBQA1Y9L22JB70 -------------------------- --------------------------------------------- 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted ------------------------------------------------------------------------- a) Description of the Ordinary shares with a nominal value financial instrument, of 25 pence each ("Shares") type of instrument GB0031348658 Identification code -------------------------- --------------------------------------------- b) Nature of the transaction The Company granted the individual described above a conditional award to acquire Shares under the Barclays Share Value Plan (the "Award"). Shares under the Award typically vest in two tranches over two years. -------------------------- --------------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s): Number of Shares received GBP1.5952 per share 443,951 -------------------- -------------------------- --------------------------------------------- d) Aggregated information Not applicable - Aggregated volume - Price -------------------------- --------------------------------------------- e) Date of the transaction 2019-03-08 -------------------------- --------------------------------------------- f) Place of the transaction London Stock Exchange (XLON) -------------------------- --------------------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Tushar Morzaria -------------------------- --------------------------------------------- 2 Reason for the notification ------------------------------------------------------------------------- a) Position/status Group Finance Director -------------------------- --------------------------------------------- b) Initial notification Initial notification /Amendment -------------------------- --------------------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ------------------------------------------------------------------------- a) Name Barclays PLC -------------------------- --------------------------------------------- b) LEI 213800LBQA1Y9L22JB70 -------------------------- --------------------------------------------- 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted ------------------------------------------------------------------------- a) Description of the Ordinary shares with a nominal value financial instrument, of 25 pence each ("Shares") type of instrument GB0031348658 Identification code -------------------------- --------------------------------------------- b) Nature of the transaction The Company granted the individual described above a conditional award to acquire Shares under the Barclays Share Value Plan (the "Award"). Shares under the Award typically vest in two tranches over two years. -------------------------- --------------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s): Number of Shares received GBP1.5952 per share 220,968 -------------------- -------------------------- --------------------------------------------- d) Aggregated information Not applicable - Aggregated volume - Price -------------------------- --------------------------------------------- e) Date of the transaction 2019-03-08 -------------------------- --------------------------------------------- f) Place of the transaction London Stock Exchange (XLON) -------------------------- --------------------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Paul Compton -------------------------- ---------------------------------------------- 2 Reason for the notification -------------------------------------------------------------------------- a) Position/status Group Chief Operating Officer -------------------------- ---------------------------------------------- b) Initial notification Initial notification /Amendment -------------------------- ---------------------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor -------------------------------------------------------------------------- a) Name Barclays PLC -------------------------- ---------------------------------------------- b) LEI 213800LBQA1Y9L22JB70 -------------------------- ---------------------------------------------- 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted -------------------------------------------------------------------------- a) Description of the Ordinary shares with a nominal value financial instrument, of 25 pence each ("Shares") type of instrument Identification code GB0031348658 -------------------------- ---------------------------------------------- b) Nature of the transaction The Company granted the individual described above a conditional award to acquire Shares under the Barclays Deferred Share Value Plan (the "Award"). Shares under the Award typically vest in five tranches over seven years. -------------------------- ---------------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s): Number of Shares received GBP1.5952 per share 1,592,332 -------------------- -------------------------- ---------------------------------------------- d) Aggregated information Not applicable - Aggregated volume - Price -------------------------- ---------------------------------------------- e) Date of the transaction 2019-03-08 -------------------------- ---------------------------------------------- f) Place of the transaction London Stock Exchange (XLON) -------------------------- ---------------------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Bob Hoyt -------------------------- --------------------------------------------- 2 Reason for the notification ------------------------------------------------------------------------- a) Position/status Group General Counsel -------------------------- --------------------------------------------- b) Initial notification Initial notification /Amendment -------------------------- --------------------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ------------------------------------------------------------------------- a) Name Barclays PLC -------------------------- --------------------------------------------- b) LEI 213800LBQA1Y9L22JB70 -------------------------- --------------------------------------------- 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted ------------------------------------------------------------------------- a) Description of the Ordinary shares with a nominal value financial instrument, of 25 pence each ("Shares") type of instrument Identification code GB0031348658 -------------------------- --------------------------------------------- b) Nature of the transaction The Company granted the individual described above conditional awards to acquire Shares under the Barclays Deferred Share Value Plan (the "Award"). Shares under the Award typically vest in five tranches over five years. -------------------------- --------------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s): Number of Shares received GBP1.5952 per share 1,132,127 -------------------- -------------------------- --------------------------------------------- d) Aggregated information Not applicable - Aggregated volume - Price -------------------------- --------------------------------------------- e) Date of the transaction 2019-03-08 -------------------------- --------------------------------------------- f) Place of the transaction London Stock Exchange (XLON) -------------------------- --------------------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Laura Padovani -------------------------- --------------------------------------------- 2 Reason for the notification ------------------------------------------------------------------------- a) Position/status Group Chief Compliance Officer -------------------------- --------------------------------------------- b) Initial notification Initial notification /Amendment -------------------------- --------------------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ------------------------------------------------------------------------- a) Name Barclays PLC -------------------------- --------------------------------------------- b) LEI 213800LBQA1Y9L22JB70 -------------------------- --------------------------------------------- 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted ------------------------------------------------------------------------- a) Description of the Ordinary shares with a nominal value financial instrument, of 25 pence each ("Shares") type of instrument GB0031348658 Identification code -------------------------- --------------------------------------------- b) Nature of the transaction The Company granted the individual described above a conditional award to acquire Shares under the Barclays Deferred Share Value Plan (the "Award"). Shares under the Award typically vest in five tranches over seven years. -------------------------- --------------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s): Number of Shares received GBP1.5952 per share 225,828 -------------------- -------------------------- --------------------------------------------- d) Aggregated information Not applicable - Aggregated volume - Price -------------------------- --------------------------------------------- e) Date of the transaction 2019-03-08 -------------------------- --------------------------------------------- f) Place of the transaction London Stock Exchange (XLON) -------------------------- --------------------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Tristram Roberts -------------------------- --------------------------------------------- 2 Reason for the notification ------------------------------------------------------------------------- a) Position/status Group HR Director -------------------------- --------------------------------------------- b) Initial notification Initial notification /Amendment -------------------------- --------------------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ------------------------------------------------------------------------- a) Name Barclays PLC -------------------------- --------------------------------------------- b) LEI 213800LBQA1Y9L22JB70 -------------------------- --------------------------------------------- 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted ------------------------------------------------------------------------- a) Description of the Ordinary shares with a nominal value financial instrument, of 25 pence each ("Shares") type of instrument GB0031348658 Identification code -------------------------- --------------------------------------------- b) Nature of the transaction The Company granted the individual described above a conditional award to acquire Shares under the Barclays Deferred Share Value Plan (the "Award"). Shares under the Award typically vest in five tranches over seven years. -------------------------- --------------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s): Number of Shares received GBP1.5952 per share 618,319 -------------------- -------------------------- --------------------------------------------- d) Aggregated information Not applicable - Aggregated volume - Price -------------------------- --------------------------------------------- e) Date of the transaction 2019-03-08 -------------------------- --------------------------------------------- f) Place of the transaction London Stock Exchange (XLON) -------------------------- --------------------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Tim Throsby -------------------------- --------------------------------------------- 2 Reason for the notification ------------------------------------------------------------------------- a) Position/status President, Barclays International and CEO, Barclays Bank PLC -------------------------- --------------------------------------------- b) Initial notification Initial notification /Amendment -------------------------- --------------------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ------------------------------------------------------------------------- a) Name Barclays PLC -------------------------- --------------------------------------------- b) LEI 213800LBQA1Y9L22JB70 -------------------------- --------------------------------------------- 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted ------------------------------------------------------------------------- a) Description of the Ordinary shares with a nominal value financial instrument, of 25 pence each ("Shares") type of instrument GB0031348658 Identification code -------------------------- --------------------------------------------- b) Nature of the transaction The Company granted the individual described above a conditional award to acquire Shares under the Barclays Deferred Share Value Plan (the "Award"). Shares under the Award typically vest in five tranches over seven years. -------------------------- --------------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s): Number of Shares received GBP1.5952 per share 2,340,536 -------------------- -------------------------- --------------------------------------------- d) Aggregated information Not applicable - Aggregated volume - Price -------------------------- --------------------------------------------- e) Date of the transaction 2019-03-08 -------------------------- --------------------------------------------- f) Place of the transaction London Stock Exchange (XLON) -------------------------- --------------------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Ashok Vaswani -------------------------- --------------------------------------------- 2 Reason for the notification ------------------------------------------------------------------------- a) Position/status CEO, Barclays Bank UK PLC -------------------------- --------------------------------------------- b) Initial notification Initial notification /Amendment -------------------------- --------------------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ------------------------------------------------------------------------- a) Name Barclays PLC -------------------------- --------------------------------------------- b) LEI 213800LBQA1Y9L22JB70 -------------------------- --------------------------------------------- 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted ------------------------------------------------------------------------- a) Description of the Ordinary shares with a nominal value financial instrument, of 25 pence each ("Shares") type of instrument GB0031348658 Identification code -------------------------- --------------------------------------------- b) Nature of the transaction The Company granted the individual described above a conditional award to acquire Shares under the Barclays Deferred Share Value Plan (the "Award"). Shares under the Award typically vest in five tranches over seven years. -------------------------- --------------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s): Number of Shares received GBP1.5952 per share 901,682 -------------------- -------------------------- --------------------------------------------- d) Aggregated information Not applicable - Aggregated volume - Price -------------------------- --------------------------------------------- e) Date of the transaction 2019-03-08 -------------------------- --------------------------------------------- f) Place of the transaction London Stock Exchange (XLON) -------------------------- --------------------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name C.S. Venkatakrishnan -------------------------- --------------------------------------------- 2 Reason for the notification ------------------------------------------------------------------------- a) Position/status Chief Risk Officer -------------------------- --------------------------------------------- b) Initial notification Initial notification /Amendment -------------------------- --------------------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ------------------------------------------------------------------------- a) Name Barclays PLC -------------------------- --------------------------------------------- b) LEI 213800LBQA1Y9L22JB70 -------------------------- --------------------------------------------- 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted ------------------------------------------------------------------------- a) Description of the Ordinary shares with a nominal value financial instrument, of 25 pence each ("Shares") type of instrument GB0031348658 Identification code -------------------------- --------------------------------------------- b) Nature of the transaction The Company granted the individual described above a conditional award to acquire Shares under the Barclays Deferred Share Value Plan (the "Award"). Shares under the Award typically vest in five tranches over seven years. -------------------------- --------------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s): Number of Shares received GBP1.5952 per share 805,758 -------------------- -------------------------- --------------------------------------------- d) Aggregated information Not applicable - Aggregated volume - Price -------------------------- --------------------------------------------- e) Date of the transaction 2019-03-08 -------------------------- --------------------------------------------- f) Place of the transaction London Stock Exchange (XLON) -------------------------- --------------------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Jes Staley -------------------------- --------------------------------------------- 2 Reason for the notification ------------------------------------------------------------------------- a) Position/status Group Chief Executive Officer -------------------------- --------------------------------------------- b) Initial notification Initial notification /Amendment -------------------------- --------------------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ------------------------------------------------------------------------- a) Name Barclays PLC -------------------------- --------------------------------------------- b) LEI 213800LBQA1Y9L22JB70 -------------------------- --------------------------------------------- 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted ------------------------------------------------------------------------- a) Description of the Ordinary shares with a nominal value financial instrument, of 25 pence each ("Shares") type of instrument GB0031348658 Identification code -------------------------- --------------------------------------------- b) Nature of the transaction The Company granted the individual described above a conditional award to acquire Shares under the Barclays Long Term Incentive Plan (the "Award"). Shares under the Award typically vest in five tranches over seven years, subject to performance conditions being met. -------------------------- --------------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s): Number of Shares received GBP1.5952 per share 2,681,618 -------------------- -------------------------- --------------------------------------------- d) Aggregated information Not applicable - Aggregated volume - Price -------------------------- --------------------------------------------- e) Date of the transaction 2019-03-08 -------------------------- --------------------------------------------- f) Place of the transaction London Stock Exchange (XLON) -------------------------- --------------------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Tushar Morzaria -------------------------- --------------------------------------------- 2 Reason for the notification ------------------------------------------------------------------------- a) Position/status Group Finance Director -------------------------- --------------------------------------------- b) Initial notification Initial notification /Amendment -------------------------- --------------------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ------------------------------------------------------------------------- a) Name Barclays PLC -------------------------- --------------------------------------------- b) LEI 213800LBQA1Y9L22JB70 -------------------------- --------------------------------------------- 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted ------------------------------------------------------------------------- a) Description of the Ordinary shares with a nominal value financial instrument, of 25 pence each ("Shares") type of instrument GB0031348658 Identification code -------------------------- --------------------------------------------- b) Nature of the transaction The Company granted the individual described above a conditional award to acquire Shares under the Barclays Long Term Incentive Plan (the "Award"). Shares under the Award typically vest in five tranches over seven years subject to performance conditions being met. -------------------------- --------------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s): Number of Shares received GBP1.5952 per share 1,806,625 -------------------- -------------------------- --------------------------------------------- d) Aggregated information Not applicable - Aggregated volume - Price -------------------------- --------------------------------------------- e) Date of the transaction 2019-03-08 -------------------------- --------------------------------------------- f) Place of the transaction London Stock Exchange (XLON) -------------------------- --------------------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Jes Staley -------------------------- --------------------------------------------- 2 Reason for the notification ------------------------------------------------------------------------- a) Position/status Group Chief Executive Officer -------------------------- --------------------------------------------- b) Initial notification Initial notification /Amendment -------------------------- --------------------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ------------------------------------------------------------------------- a) Name Barclays PLC -------------------------- --------------------------------------------- b) LEI 213800LBQA1Y9L22JB70 -------------------------- --------------------------------------------- 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted ------------------------------------------------------------------------- a) Description of the Ordinary shares with a nominal value financial instrument, of 25 pence each ("Shares") type of instrument GB0031348658 Identification code -------------------------- --------------------------------------------- b) Nature of the transaction The trustee of the Barclays Group (PSP) Employees' Benefit Trust delivered Shares to the individual described above. The Shares delivered are in respect of Share Incentive (Holding Period) Shares. The Shares are subject to a 12 month holding period during which they cannot be charged, pledged or otherwise encumbered. After the settlement of tax and social security, the individual described above received 53,072 Shares. -------------------------- --------------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s): Number of Shares received GBP1.5952 per share 125,376 -------------------- -------------------------- --------------------------------------------- d) Aggregated information Not applicable - Aggregated volume - Price -------------------------- --------------------------------------------- e) Date of the transaction 2019-03-08 -------------------------- --------------------------------------------- f) Place of the transaction London Stock Exchange (XLON) -------------------------- --------------------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Tushar Morzaria -------------------------- --------------------------------------------- 2 Reason for the notification ------------------------------------------------------------------------- a) Position/status Group Finance Director -------------------------- --------------------------------------------- b) Initial notification Initial notification /Amendment -------------------------- --------------------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ------------------------------------------------------------------------- a) Name Barclays PLC -------------------------- --------------------------------------------- b) LEI 213800LBQA1Y9L22JB70 -------------------------- --------------------------------------------- 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted ------------------------------------------------------------------------- a) Description of the Ordinary shares with a nominal value financial instrument, of 25 pence each ("Shares") type of instrument Identification code GB0031348658 -------------------------- --------------------------------------------- b) Nature of the transaction The trustee of the Barclays Group (PSP) Employees' Benefit Trust delivered Shares to the individual described above. The Shares delivered are in respect of Share Incentive (Holding Period) Shares. The Shares are subject to a 12 month holding period during which they cannot be charged, pledged or otherwise encumbered. After the settlement of tax and social security, the individual described above received 66,450 Shares. -------------------------- --------------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s): Number of Shares received GBP1.5952 per share 125,376 -------------------- -------------------------- --------------------------------------------- d) Aggregated information Not applicable - Aggregated volume - Price -------------------------- --------------------------------------------- e) Date of the transaction 2019-03-08 -------------------------- --------------------------------------------- f) Place of the transaction London Stock Exchange (XLON) -------------------------- --------------------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Paul Compton -------------------------- ---------------------------------------------- 2 Reason for the notification -------------------------------------------------------------------------- a) Position/status Group Chief Operating Officer -------------------------- ---------------------------------------------- b) Initial notification Initial notification /Amendment -------------------------- ---------------------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor -------------------------------------------------------------------------- a) Name Barclays PLC -------------------------- ---------------------------------------------- b) LEI 213800LBQA1Y9L22JB70 -------------------------- ---------------------------------------------- 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted -------------------------------------------------------------------------- a) Description of the Ordinary shares with a nominal value financial instrument, of 25 pence each ("Shares") type of instrument Identification code GB0031348658 -------------------------- ---------------------------------------------- b) Nature of the transaction The trustee of the Barclays Group (PSP) Employees' Benefit Trust delivered Shares to the individual described above. The Shares delivered are in respect of Share Incentive (Holding Period) Shares. The Shares are subject to a 12 month holding period lifting during which they cannot be charged, pledged or otherwise encumbered. After the settlement of tax and social security, the individual described above received 55,580 Shares. -------------------------- ---------------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s): Number of Shares received GBP1.5952 per share 125,376 -------------------- -------------------------- ---------------------------------------------- d) Aggregated information Not applicable - Aggregated volume - Price -------------------------- ---------------------------------------------- e) Date of the transaction 2019-03-08 -------------------------- ---------------------------------------------- f) Place of the transaction London Stock Exchange (XLON) -------------------------- ---------------------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Bob Hoyt -------------------------- ---------------------------------------------- 2 Reason for the notification -------------------------------------------------------------------------- a) Position/status Group General Counsel -------------------------- ---------------------------------------------- b) Initial notification Initial notification /Amendment -------------------------- ---------------------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor -------------------------------------------------------------------------- a) Name Barclays PLC -------------------------- ---------------------------------------------- b) LEI 213800LBQA1Y9L22JB70 -------------------------- ---------------------------------------------- 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted -------------------------------------------------------------------------- a) Description of the Ordinary shares with a nominal value financial instrument, of 25 pence each ("Shares") type of instrument Identification code GB0031348658 -------------------------- ---------------------------------------------- b) Nature of the transaction The trustee of the Barclays Group (PSP) Employees' Benefit Trust delivered Shares to the individual described above. The Shares delivered are in respect of Share Incentive (Holding Period) Shares. The Shares are subject to a 12 month holding period during which they cannot be charged, pledged or otherwise encumbered. After the settlement of tax and social security, the individual described above received 66,450 Shares. -------------------------- ---------------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s): Number of Shares received GBP1.5952 per share 125,376 -------------------- -------------------------- ---------------------------------------------- d) Aggregated information Not applicable - Aggregated volume - Price -------------------------- ---------------------------------------------- e) Date of the transaction 2019-03-08 -------------------------- ---------------------------------------------- f) Place of the transaction London Stock Exchange (XLON) -------------------------- ---------------------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Laura Padovani -------------------------- --------------------------------------------- 2 Reason for the notification ------------------------------------------------------------------------- a) Position/status Group Chief Compliance Officer -------------------------- --------------------------------------------- b) Initial notification Initial notification /Amendment -------------------------- --------------------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ------------------------------------------------------------------------- a) Name Barclays PLC -------------------------- --------------------------------------------- b) LEI 213800LBQA1Y9L22JB70 -------------------------- --------------------------------------------- 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted ------------------------------------------------------------------------- a) Description of the Ordinary shares with a nominal value financial instrument, of 25 pence each ("Shares") type of instrument GB0031348658 Identification code -------------------------- --------------------------------------------- b) Nature of the transaction The trustee of the Barclays Group (PSP) Employees' Benefit Trust delivered Shares to the individual described above. The Shares delivered are in respect of Share Incentive (Holding Period) Shares. The Shares are subject to a 12 month holding period during which they cannot be charged, pledged or otherwise encumbered. After the settlement of tax and social security, the individual described above received 61,466 Shares. -------------------------- --------------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s): Number of Shares received
07/1/2019
16:43
bernie37: Page 1 Sherborne Investors / Barclays PLC Update Dear ‐‐‐;‐‐ Since we saw you we have increased our position slightly and Sherborne Investors now has an interest of approximately 5.51% in Barclays, spread across the funds that we manage, including, of course, SIGC. Recently, we obtained the official share register from the company and, based on analysis of this detailed data, it appears that we now hold the second largest interest in Barclays. The composition of our holdings has also changed somewhat as we have increased the portion held in derivatives as a way to hedge against declines in Barclays’ share price while retaining a majority of the potential increases. In round numbers we hold, at present, approximately 440 million shares outright, which we purchased for total consideration of slightly less than £900 million in cash, as well as the equivalent of approximately 500 million additional shares through derivatives with maturities stretching out to 2021. As discussed with you, our funds also retain a substantial amount of cash to purchase, at our discretion, our share of any rights offering that Barclays may be required to make or to increase our holdings if this risk begins to abate. Our recent meeting with the Chairman, Senior Independent Director, and the executive directors of Barclays was pleasant and polite, illustrating that it is possible for people to differ in a spirit of goodwill. In the course of extensive correspondence and several meetings with Barclays we have raised many of the points we have discussed with you, including: 1) Valuation: Market multiples of book value for investment banks, like Barclays’ Corporate and Investment Bank (“CIB”) tend to be lower, globally, than for consumer orientated banks. This raises the threshold return that shareholders require from capital invested in investment banking businesses to a level that the CIB, in its current form, is unlikely to meet or be able to maintain so that it will continue to be a long‐term depressant on Barclays’ valuation. 2) Capital Allocation: The diversion of resources from Barclays’ consumer businesses that, in the last 12 months, earned an 18% return to fund an investment banking business that earned at most 7% is, inevitably, destructive of shareholder value and could only be justified by the prospect of a sustainable future level of return that the current CIB business cannot realistically achieve. 3) Strategic Weaknesses: The CIB has legacy strategic weaknesses in customer and product mix that fundamentally limit the yield on assets it can achieve, resulting in uncompetitive returns on capital. The current strategy of adding more and more leverage to generate revenue from low‐ yielding assets does not address these underlying issues. 4) Capital Structure: Barclays PLC, the entity that issues shares to the public, is no longer a “bank,” but has become a financial holding company that owns interests in ring‐fenced subsidiary banks. As a result its risk and liquidity profile is profoundly different than it was in the past and ought to be managed more prudently. Four years ago Barclays PLC had relatively immaterial borrowings, but it has now borrowed £47 billion to fund regulatory capital requirements of the CIB. These borrowings are a prior claim on the assets and cash flow of the holding company which, self‐evidently, increases the risk to shareholders of dividend volatility or material capital losses. As a result, Moody’s has lowered Barclays PLC’s credit rating to Baa3, which is only one step above “junk” and is the lowest of any UK or US banking peer. 5) Shareholder Base: Many institutions that would typically have significant shareholdings in Barclays do not, because it has lower equity capital and higher leverage ratios than any UK peer but, despite this added risk, still is expected to generate the lowest consensus returns. The CIB has been described to us as a “black box with too much leverage” and this deters many long‐ term investors from acquiring shares even at an exceptionally large discount to tangible book value. In response to certain of these points, Barclays has told us that the improvement in its most recent reported 9 month group returns demonstrates that its strategy is working. However, it is widely recognised that more than 100% of the reported improvement in Core profit in this period resulted from approximately £900 million of net non‐recurring items of income, without which Core attributable profit would actually have declined from the prior year. Less well reported is the fact we pointed out to you that, although Q3 CIB revenues declined from the prior year and pre‐tax profits fell by approximately £70 million, what appears to have been a fortunately timed income tax benefit transformed this decline into a reported increase in CIB’s attributable profit. As we also discussed with you, it appears that the CIB’s Markets segment revenue increase and market share gain in Q3, which the company has highlighted, resulted from deploying substantially greater assets to “buy” revenue at prices that competitors did not feel compelled to match, rather than from any change in Barclays’ long‐term strategic competitiveness. With respect to the capital structure and financial position of the holding company, Barclays told us that they have heard similar concerns from other shareholders, but that the board disagrees and considers the parent company credit rating to be strong, pointing, inter alia, to the various stress tests that Barclays has passed. However, this overlooks the fact that it is quite possible to pass a stress test, but still devastate shareholders by virtue of the structure and magnitude of the holding company borrowings that Barclays continues to incur. It seems clear to us that, in order for the board to protect the long‐term interests of Barclays PLC’s shareholders, it will be required to adopt more conservative capital, leverage, and liquidity levels than strictly required by the regulators. The most expedient way of meeting this objective is through a judicious reduction in the CIB’s assets, which should, we believe, be accomplished before market conditions, now relatively benign, deteriorate. The capital that is released should be retained to make Barclays’ capital strength undoubted and to protect shareholders over a full cycle. Barclays has attractive consumer businesses that unquestionably merit additional attention and resources. The same is true of segments of the CIB. However, we believe that the CIB must become a realistically viable business that can contribute positive shareholder value to Barclays, but without the credit support and subsidies from other parts of the company on which it currently depends. Importantly, the resulting business should no longer threaten the overall stability of the group. In an interesting exchange about holding company leverage, Barclays argued that the more conservative financial policy we have suggested would lower its returns from levels that are already uncompetitive and that shareholders, therefore, have no choice other than to continue to accept the added level of risk. This captures, rather succinctly, the dilemma that is presented by the strategic weaknesses noted above. In our view, the better course would be to re‐evaluate the strategy of the CIB and balance the business so that excessive leverage is no longer the default option. We have listened to and considered all of the problems, potentially prohibitive costs, product interdependency, et cetera, that make it too hard for Barclays to make any changes. As we discussed with you, there are common sense approaches to dealing with all of these business issues to produce a positive outcome for all stakeholders, and we would be happy to work with the board to develop them. In this regard, we made a written proposal to the board in September to appoint me as a non‐executive director, on the basis that it would add relevant experience and broaden the board’s range of perspectives. We felt that this would allow us to participate with the other Barclays directors, in a low‐ key way, to address the concerns that we have raised, as well as any others that might present themselves in the future. After our meeting, we were told that the directors would look forward to continued engagement with us but that board representation would not be “needed”. At the same time, Barclays proposed a meeting following the announcement of their annual results, and we have confirmed an appointment with the CEO at our offices in New York on the 12th of March. We have undertaken a long process of consistent engagement, deliberately allowing ample time and opportunity for Barclays to respond to our concerns and to demonstrate that the strategy that it has pursued since 2015 will produce appropriate returns at a reasonable risk. After considering the situation carefully we do not have confidence that continued engagement with the company, strictly as an outsider, will produce any more measurable results in the future than it has to date. It seems increasingly likely that, for any progress to be made on our concerns, we will be required to seek a shareholder vote to make changes in the composition of the board. Were we to do so, the most pragmatic approach, in view of the calendar, appears to be for us to present resolutions to be voted on at the Annual General Meeting, but if circumstances were to change we could requisition a separate General Meeting instead. We continue to believe that it is possible to increase Barclays’ shareholder value in line with our customary return objective, and Stephen and I will be coming to see you in the New Year to update you. In the meantime, both of us wish you the very best for the season and the New Year. Kind regards, Ed
04/5/2018
14:29
bernie37: Log In Sign Up Personal Finance & Money QUESTIONS TAGS USERS BADGES UNANSWERED ASK QUESTION _ Personal Finance & Money Stack Exchange is a question and answer site for people who want to be financially literate. Join them; it only takes a minute: Sign up Here's how it works: Anybody can ask a question Anybody can answer The best answers are voted up and rise to the top Why would a company issue a scrip dividend and how will this issue affect me? up vote 8 down vote favorite Barclays in the UK have sent out a leaflet recently (online version) saying they are moving to a Scrip Dividend programme. The FAQ does its best to answer questions but still uses a lot of jargon and doesn't really answer all of the questions I have. I'm hoping that the questions that I have are generic enough that they will apply outside of Barclays. Am I correct in understanding that a Scrip Dividend involves the issue of new shares instead of the purchase of existing shares? Does this mean that if I don't join this program, my existing shares will be diluted every time a Scrip Dividend is paid? What is the benefit to the company of issuing Scrip Dividends? stocks united-kingdom dividends dividend-reinvestment shareimprove this question edited Jun 12 '13 at 19:39 John Bensin 13.6k35498 asked Jun 12 '13 at 17:29 Matthew Steeples 203129 Is cash from a script dividend taxed at source?. – user17923 Jul 7 '14 at 8:12 add a comment 2 Answers ACTIVE OLDEST VOTES up vote 9 down vote accepted Am I correct in understanding that a Scrip Dividend involves the issue of new shares instead of the purchase of existing shares? Yes. Instead of paying a cash dividend to shareholders, the company grants existing shareholders new shares at a previously determined price. This allows shareholders who join the program to obtain new shares without incurring transaction costs that would normally occur if they purchased these shares in the market. Does this mean that if I don't join this program, my existing shares will be diluted every time a Scrip Dividend is paid? Yes, because the number of shares has increased, so the relative percentage of shares in the company you hold will decrease if you opt-out of the program. The price of the existing shares will adjust so that the value of the company is essentially unchanged (similar to a stock split), but the number of outstanding shares has increased, so the relative weight of your shares declines if you opt out of the program. What is the benefit to the company of issuing Scrip Dividends? Companies may do this to conserve their cash reserves. Also, by issuing a scrip dividend, corporations could avoid the Advanced Corporation Tax (ACT) that they would normally pre-pay on their distributions. Since the abolition of the ACT in 1999, preserving cash reserves is the primary reason for a company to issue scrip dividends, as far as I know. Whether or not scrip dividends are actually a beneficial strategy for a company is debatable (this looks like a neat study, even though I've only skimmed it). The issue may be beneficial to you, however, because you might receive a tax benefit. You can sell the scrip dividend in the market; the capital gain from this sale may fall below the annual tax-free allowance for capital gains, in which case you don't pay any capital gains tax on that amount. For a cash dividend, however, there isn't a minimum taxable amount, so you would owe dividend tax on the entire dividend (and may therefore pay more taxes on a cash dividend). shareimprove this answer edited Jun 12 '13 at 19:22 answered Jun 12 '13 at 19:16 John Bensin 13.6k35498 Thanks for that, that's mostly what I was expecting (and the capital gains vs divident tax was very useful) – Matthew Steeples Jun 13 '13 at 17:44 a little colour: Barclays are looking at conserving cash to fit in with regulatory requirements, mostly on their ring-fenced retail business. – MD-Tech Jan 12 at 13:51 add a comment up vote -1 down vote "Yes. Instead of paying a cash dividend to shareholders, the company grants existing shareholders new shares at a previously determined price." I'm sorry, but scrip issues are free (for all ordinary shareholders) and are in proportion to existing share holding. No payment is required from shareholders. So instead of having 10 $1 shares, the shareholder (if accepts) now could have 20 50p shares, if it was a one-for-one scrip issue. shareimprove this answer answered Aug 25 '15 at 3:26 user32599 1 add a comment protected by Chris W. Rea Jan 12 at 14:46 Thank you for your interest in this question. Because it has attracted low-quality or spam answers that had to be removed, posting an answer now requires 10 reputation on this site (the association bonus does not count). Would you like to answer one of these unanswered questions instead? Not the answer you're looking for? Browse other questions tagged stocks united-kingdom dividends dividend-reinvestment or ask your own question. asked 4 years, 10 months ago viewed 24,178 times active 3 months ago BLOG Stack Overflow for Teams is Now Available Linked 4 What is the tax treatment of scrip dividends in the UK? Related 12 What does it mean if a company pays a quarterly dividend? How much would I get quarterly? 1 Companies that use their cash to buy back stock, issue dividends, etc. — how does this this typically affect share price? 8 Does a stock really dip in price on the ex-dividend date? And why would it do this? 2 Why do many British companies offer a scrip dividend option in lieu of cash? 2 What is the difference between a scrip dividend and a stock split? 2 How should accumulation type units in unit-trusts/OEICs held outside of an ISA/SIPP be handled for tax? 1 How do I calculate cost basis and dividends / capital gains from a taxable spinoff? 4 What does it mean for issuing corporations to “crank out expensive shares when market
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