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Britain’s banking sector scraps billions of dollars in shareholder dividends.

Britain’s banking sector scraps billions of dollars in shareholder dividends.

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 Britain’s banking sector has scrapped billions of dollars in shareholder dividends and share buybacks after the Bank of England requested the move to boost liquidity and help cope with the coronavirus pandemic.The British central bank, in a statement, said its Prudential Regulation Authority division had asked lenders to stop the payments until the end of the year.It also said it expects them not to pay any cash bonuses to top staff.In response, Barclays, HSBC, Lloyds Banking Group, Royal Bank of Scotland, Santander and Standard Chartered all stated that they will scrap dividends and not pursue buybacks.--- Support this podcast: https://anchor.fm/newscast-africa/support --- Send in a voice message: https://anchor.fm/africabusinessnews/message Support this podcast: https://anchor.fm/africabusinessnews/support
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