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Barclays’ stirring comeback continues: A £1.4 billion profit after 2017’s nearly £2 billion loss! Doubling its dividends! Buybacks for everyone! You get a buyback and you get a buyback and you get a buyback! Take that, Edward Bramson.

Handing back capital to shareholders is a good way to undermine critics and Barclays’s stock rose more than 3% in early trading…. By doubling its dividend, Barclays is handing £1.1 billion ($1.4 billion) back to shareholders.

Jes Staley & co. are hoping that, when proxy time comes, that’s all they’ll remember. Because when you read into the details, well, actually, there aren’t any.

The only problem with the buyback plan is that investors have been left hanging: They don’t know how big it will be or when it will come…. The bank suggested that it could generate enough capital in 2019 to increase its next dividend and have as much as £2.5 billion left over to cover lending growth and buybacks. However, it also cited analyst expectations for buybacks in 2019 of only £500 million.

And that’s not the only question mark hanging over the proceedings.

"In the fourth quarter, we took a special impairment charge of £150 million, given the uncertainty around Brexit. We think that was a prudent and proper thing to do," Jes Staley, chief executive officer of Barclays, told CNBC Thursday.

"There is a lot of uncertainty out there. What is important for Barclays is we are a British bank and we are staying committed to the U.K."

Barclays swings back to profit in 2018, sets aside nearly $200 million for Brexit [CNBC]
Barclays Bats Off Activist With Buyback [WSJ]


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Layoffs Watch ’19: Barclays Wants To Be More Like Credit Suisse

And unfortunately for Edward Bramson and the 3,000 of you without jobs, it’s not in the “deemphasize the investment bank” kind of way.

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Barclays May Still Have An Investment Bank, But It No Longer Has A Head Of Investment Banking

Jes Staley is so dedicated to the business that he’s taking it for himself.

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Not-So-Local Man Decides Not To Add Jes Staley To Unemployment Rolls For Now

But Edward Bramson would love to see a long-dated pink slip with the Barclays CEO’s name on it.

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Hedge Fund Won’t Reopen Bitchy Battle With Barclays After Pandemic Ends

COVID-19 has shown Edward Bramson that life’s to short to deal with the likes of Jes Staley.

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Guy Who Thinks Barclays’ I-Bank Is Governance Failure Thinks The Same About Hiring Jeff Epstein’s Buddy As CEO

You might think they’re not related issues, but to Edward Bramson it’s like the big reveal in the DaVinci Code, a book I have not read.