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CEO said that was entirely normal as they grow US cards business to set aside a percentage so entirely inline with expectations.
No worries! It's all good.
1/2/2021 17,360,813,191
Today 15,583,268,982
One might say a 10% reduction (1.7B) is not hardly.
Heh, and we were giving them a hard time for starting buybacks so late!
Since they've been doing buybacks, they've removed somewhere near 1.5 billion shares.
That's got to mean more money in their coffers where they won't have been paying out a dividend- right?
Trouble is, there are those that have been locked in due to the hope that the share price will at some point accelerate.
Maybe if they just keep doing buybacks, the share price will be forced to go north due to fewer shares in a decade or so!
At least they've been buying back a chunk of shares at the low prices.
...every cloud lol
Getting ready for the buy-backs.
Amazing foresight!
On 30 July 2013, Barclays announced an underwritten rights issue to raise approximately £5.8 billion (net of expenses) (the "Rights Issue"). Under the terms of the Rights Issue, Barclays is offering 3,219,067,868 New Ordinary Shares by way of rights to Qualifying Shareholders at 185 pence per New Ordinary Share.
Government wins either way. They will take a huge chunk out of those bonuses.
Wouldn't fewer shares actually make Barclays ripe for a (hostile) take over instead?
With a low share price and fewer shares couldn't another enterprise snap them up!?
I guess eventually they will have fewer shareholders who should partake in a greater share of profits in the guise of dividends.
If they've taken 1 billion shares out of circulation and would normally pay 6p dividend annually, then that's £60m that they can use to share amongst the rest of the shareholders.
Thats the theory anyway!
Thought it might have been the new buybacks but it looks like Citigroup, who are now handling buyback, are going for tiny daily purchases.
Agree. I thought I'd long ago make a killing from this share. Turns out, its slowly killing me!
Still, its always been a long term investment for me but I'll cash out and go with something less erratic once I can.
This is the kind of share you'd bequeathed someone you don't really like.
It has a life of its own. Doesn't seem to follow trends, is erratic and will let you down when you need the cash.
As a long term investor, I live in hope. Potential heirs be warned!
Probably the most exciting thing going on with this share lol
Here's what they mention:
The Buy-back will commence on the earlier of: (1) the business day (in London) immediately following completion of the £1,000m share buy-back programme commenced by the Company on 24 May 2022; and (2) 3 October 2022, and end no later than 28 January 2023 (subject to regulatory approval remaining in place).
Taken from:
https://www.lse.co.uk/rns/BARC/future-commencement-of-share-buy-back-programme-s54tyd4y9fc7t14.html
Haven't they, in very recent times, done £700m, 500m, 1 Billion, 500m
Chunky buybacks DarkNight!
Its the way of the industry. Performance is rewarded. Otherwise they'd never be able to retain staff.
The alternative is they have high salaries from the off and then don't bother working as hard because they get paid regardless.
Bottom line is that they generate the revenue and take a cut of it.
Are there tax implications for them buying their own shares?
If I buy shares, I end up paying some tax so interested in whether they have to do likewise.
0.5% tax on £500m worth of shares isn't small change!
Love your stats work!