LONDON (dpa-AFX) - British lender Barclays Plc (BARC.L, BCS) said that it aims to achieve a significantly improved 2017 financial outcome, and ultimately a clean and prosperous year in 2018. By this time, the new two-bank structure will be fully operational, and hopefully, a respectable dividend level reintroduced.
At annual general meeting, the company said that it did maintain the full year 2015 dividend in line with earlier commitments made, but took the difficult decision to signal reduced dividends for 2016 and 2017, after which time we should be able to cover them from earnings.
The company noted that it is well on track to meet our 2016 guidance for the Core business of a cost level of 12.8 billion pounds, and it has an eye on its longer term target of a Group cost to income ratio below 60%.
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