Saturday, February 19, 2011

Barclays (LSE: BARC.L) paid out just £113m in corporation tax in 2009, despite making a pre-tax profit of £11.6bn, according to chief executive Bob Diamond.


We are putting things into perspective as to who gets what - We think that shareholders and tax payers will not be impressed

Pre-tax profit of £11.6bn,
Corporation tax £113,000.000
Shareholders dividend  £285,000,000 
2010 - It said it was paying £3.4 billion in staff bonuses, down 7% compared with 2009. Pre-tax profit was also up a third in 2010 to £6 billion. (note - this does not tally with the figure above)
http://www.rte.ie/news/2011/0215/barclays-business.html
Video below - Bob Diamond on Regulatory Reform at Chatham House




Sunday February 13,2011
By Geoff Ho Have your say(0)


"BARCLAYS is poised to double its full-year dividend payouts to more than £570 million in a move that will bring some relief to hard-pressed pension funds and private investors.

Analysts expect Barclays, which will kick off the UK banks’ results reporting season on Tuesday, to announce a dividend of 5p a share for 2010.

In 2009, Barclays paid out a total of £289 million to investors, including pension funds. This was equivalent to 2.5p a share.

Aside from doubling its full-year dividend, Barclays is expected to announce pre-tax profits of £5.8 billion according to consensus forecasts. That is down from the £11.6 billion profit it made in 2009, which saw it sell its investment funds arm for £6.3 billion.

Full-year dividends from Britain’s big listed banks combined are expected to rise 13 per cent to £5.6 billion and it will be the first increase in payouts from the sector since the credit crunch hit in 2007.

It also comes despite the fact that both Royal Bank of Scotland and Lloyds Banking Group are barred from paying dividends to their investors, under the terms of their respective government bailouts.

Aside from the dividend increases, the banks are poised to announce that they have collectively made an estimated £24 billion in pre-tax profits, more than double the amount they made in 2009.

The highest dividend payout will come from HSBC, which is expected to pay more than £4 billion to shareholders, an increase of 7 per cent.

HSBC has paid a total of £13.3 billion in dividends to investors since the global financial crisis started.

Analysts predict that HSBC will produce a pre-tax profit of £12.6 billion for 2010, a 163 per cent increase on the previous year, which was blighted by continued losses at Household, the US sub-prime business which is being wound down.

Standard Chartered, HSBC’s arch rival in Asia, is forecast to increase its total dividend payout by up to 10 per cent to £936.3 million. It is expected to post a pre-tax profit of £3.8 billion, which would be its eighth consecutive record full-year profit.

Semi-nationalised lenders Lloyds and RBS are expected to report profits of £1.2 billion and £651 million respectively, after two years of heavy losses.

Last week the banks and the Government finally reached a deal that will see lending to businesses increased and bankers’ bonuses slashed.

The Project Merlin deal will see banks reduce the size of their bonus pools and increase lending to businesses by £190 billion.

In return, the Government has promised that ministers will no longer attack the banks and allow them to rebuild the industry’s tarnished reputation."

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