Barclays
Website:
Barclays
Index:
FTSE 100
EPIC: BARC
Supersector:
Banks
Sector:
Banks
Subsector:
Banks
Market Cap:
£54.99B
Payout Frequency: Semi-Annual
Barclays Dividend Analysis and Summary
Headline dividend details
- Declared dividend: Final 5.6p per share for FY2025 (total FY2025 dividend 8.6p, incl. 3.0p interim).
- Ex-dividend date: 19/02/2026.
- Record date: 20/02/2026.
- Payment date: 31/03/2026.
- DRIP election deadline: 10/03/2026.
- Cash cost: c.£0.8bn for the final; total FY2025 dividends c.£1.2bn.
- Indicative trailing yield: c.1.8% on a year-end share price of 476p (8.6p/476p; actual yield varies with price).
- Payout ratio: c.20% of FY2025 EPS (8.6p vs 43.8p).
Forward guidance and capital returns
- 2026 plan includes a £2bn cash dividend (semi-annual), alongside ongoing buybacks; at today’s share count this implies c.14–15p DPS (indicative, subject to Board/supervisory approvals and share count changes).
- Buybacks: £2.5bn completed for 2025 and intention to initiate a further up to £1.0bn in Q1 2026.
- Medium-term: targeting >£15bn capital distributions in 2026–2028, with a continued preference for buybacks.
Dividend sustainability and growth
- Earnings cover strong: EPS 43.8p vs DPS 8.6p (c.5x cover); FY2025 RoTE 11.3%.
- Capital headroom: CET1 14.3% (c.14.0% pro-forma for the new £1bn buyback), within the 13–14% target range.
- Cash generation: group income up 9% YoY; NII ex-IB/HO £12.8bn; 2026 guidance NII ex-IB/HO >£13.5bn supports higher cash returns.
- Payout trajectory: DPS up modestly to 8.6p (from 8.4p). The planned £2bn 2026 dividend signals a step-up in cash dividends alongside sizeable buybacks.
Capital allocation and policy
- Policy remains semi-annual dividends with a stated preference for buybacks; 2026–2028 framework prioritises total shareholder returns while holding CET1 at 13–14%.
- Share count is trending lower (13,867m vs 14,420m prior year) enhancing per-share metrics; ongoing quarterly buyback cadence expected in 2026.
Structural/strategic items that may influence future dividends
- M&A/portfolio actions: Completed GM co-branded US cards acquisition (Aug-2025); disposal of German consumer finance and Entercard JV; agreement to acquire Best Egg (completion expected Q2 2026, post sale of AA co-brand receivables). Net impacts guided as manageable for CET1.
- Payments partnership: long-term strategic partnership with Brookfield for the Payment Acceptance business.
- Regulatory capital changes: Basel 3.1 and staged FRTB from 2027–2028; USCB IRB model transition through 2027. Management expects to remain within the CET1 target while delivering planned distributions.
Risks and flags for dividend stability
- Motor finance redress: provision increased to £325m; FCA’s final scheme (expected Feb/Mar 2026) could lead to further costs.
- Credit costs: Group LLR at 52bps (within through-cycle range 50–60bps) but elevated in US cards; guidance assumes continued normalisation.
- IB cyclicality: Investment Bank earnings remain market-sensitive; FX volatility (GBP/USD) affects reported results.
- Regulatory RWAs: Basel 3.1/FRTB and model changes could shift RWAs, though management plans anticipate this within capital targets.
- Rate backdrop: structural hedge dynamics and deposit mix could affect NII as rates move; 2026 NII guidance mitigates near-term concern.
Read more
Barclays Annual Dividend Yield - 2.23%
Dividends Used in Calculation:
| Ex-Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 27/02/2025 |
04/04/2025 |
Final |
5.50p |
GBX |
| 07/08/2025 |
16/09/2025 |
Interim |
3.00p |
GBX |
Total (Annual Dividends Per Share):
8.50p
Dividend Yield =
Annual Dividends Per Share (8.50p)
÷ Share Price (381.6p)
= 2.23%
Barclays Dividend History
| Ex Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 19/02/2026 |
31/03/2026 |
Final |
5.6000p |
GBX |
| 07/08/2025 |
16/09/2025 |
Interim |
3.00p |
GBX |
| 27/02/2025 |
04/04/2025 |
Final |
5.50p |
GBX |
| 15/08/2024 |
20/09/2024 |
Interim |
2.90p |
GBX |
| 29/02/2024 |
03/04/2024 |
Final |
5.30p |
GBX |
| 10/08/2023 |
15/09/2023 |
Interim |
2.70p |
GBX |
| 23/02/2023 |
31/03/2023 |
Final |
5.00p |
GBX |
| 11/08/2022 |
16/09/2022 |
Interim |
2.25p |
GBX |
| 03/03/2022 |
05/04/2022 |
Final |
4.00p |
GBX |
| 12/08/2021 |
17/09/2021 |
Interim |
2.00p |
GBX |
| 25/02/2021 |
01/04/2021 |
Final |
1.00p |
GBX |
| 27/02/2020 |
03/04/2020 |
Final |
6.00p |
GBX |
| 08/08/2019 |
23/09/2019 |
Interim |
3.00p |
GBX |
| 28/02/2019 |
05/04/2019 |
Final |
4.00p |
GBX |
| 09/08/2018 |
17/09/2018 |
Interim |
2.50p |
GBX |
| 01/03/2018 |
05/04/2018 |
Final |
2.00p |
GBX |
| 10/08/2017 |
18/09/2017 |
Interim |
1.00p |
GBX |
| 02/03/2017 |
05/04/2017 |
Q4 |
2.00p |
GBX |
| 11/08/2016 |
19/09/2016 |
Q2 |
1.00p |
GBX |
| 10/03/2016 |
05/04/2016 |
Q4 |
3.50p |
GBX |
| 05/11/2015 |
11/12/2015 |
Q3 |
1.00p |
GBX |
| 06/08/2015 |
14/09/2015 |
Q2 |
1.00p |
GBX |
| 07/05/2015 |
15/06/2015 |
Q1 |
1.00p |
GBX |
| 10/03/2015 |
02/04/2015 |
Q4 |
3.50p |
GBX |
| 06/11/2014 |
12/12/2014 |
Q3 |
1.00p |
GBX |
| 06/08/2014 |
19/09/2014 |
Q2 |
1.00p |
GBX |
| 14/05/2014 |
23/06/2014 |
Q1 |
1.00p |
GBX |
| 19/02/2014 |
28/03/2014 |
Q4 |
3.50p |
GBX |
| 06/11/2013 |
13/12/2013 |
Q3 |
1.00p |
GBX |
| 07/08/2013 |
13/09/2013 |
Q2 |
1.00p |
GBX |
| 01/05/2013 |
07/06/2013 |
Q1 |
1.00p |
GBX |
| Year |
Interim |
Final |
Currency |
Total |
Change |
| 2023 |
2.700 |
5.300 |
GBX |
8.000 |
10.340 |
| 2022 |
2.250 |
5.000 |
GBX |
7.250 |
20.830 |
| 2021 |
2.000 |
4.000 |
GBX |
6.000 |
500.000 |
| 2020 |
|
1.000 |
GBX |
1.000 |
-88.880 |
| 2019 |
3.000 |
6.000 |
GBX |
9.000 |
38.460 |
| 2018 |
2.500 |
4.000 |
GBX |
6.500 |
30.000 |
| 2017 |
1.000 |
2.000 |
GBX |
5.000 |
11.110 |
| 2016 |
|
|
GBX |
4.500 |
-30.760 |
| 2015 |
|
|
GBX |
6.500 |
0.000 |
| 2014 |
|
|
GBX |
6.500 |
116.660 |
| 2013 |
|
|
GBX |
3.000 |
|
Barclays Dividend Calculator
Barclays Dividend Growth
| Dividend Growth (1Y) |
2.38%
|
| Dividend CAGR (5Y) |
53.78%
|
| Years of Growth |
4
|
| Payout Ratio |
30.81%
|
| Buyback Yield |
4.37%
|
| Shareholder Yield |
6.55%
|
| P/E Ratio (TTM) | 9.43 |
|---|
| Forward P/E | 7.53 |
|---|
| P/FCF | – |
|---|
| Earnings Yield | 11.24% |
|---|
| FCF Yield | -14.69% |
|---|
| ROE | 9.57% |
|---|
| ROCE | – |
|---|
| Profit Margin | 26.74% |
|---|
| Operating Margin | 36.11% |
|---|
| Gross Margin | – |
|---|