UK banks halt dividend payments after BoE piles on pressure

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The UK’s seven largest banks have agreed not to pay dividends for the 2019 and 2020 financial years, following pressure from the head of the Bank of England’s Prudential Regulation Authority.

On March 31, Sam Woods wrote to the banks calling on them to suspend dividends and buybacks on shares until the end of 2020. They were also asked to cancel payments of any outstanding 2019 dividends.

A spokesperson from the BoE confirmed to Central Banking that all seven institutions (Barclays, HSBC

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