COVID-19: Bank watchdog paves way for resumption of dividends

Industry News | 10/12/20

Banking regulators have paved the way for the resumption of dividend payments by Britain’s biggest lenders next year.

In a statement rushed out following an enquiry from Sky News, the Prudential Regulation Authority (PRA), which sits within the Bank of England (BoE) said it saw “scope for banks to recommence some distributions should their boards choose to do so, within an appropriately prudent framework”. The announcement will be greeted with relief in the boardrooms of the UK’s biggest banks, including Barclays, HSBC Holdings and Lloyds Banking Group, which were banned from shareholder payouts when the coronavirus pandemic hit in March.

Source: Sky News