Pressure builds for banks to scrap £7.5bn of dividends

Bank of England called into action

The Bank of England (BoE) has been urged to block around £7.5bn of dividend payments from UK banks "for the sake of the health of the financial system", according to reports.

UK listed companies continue to cut, cancel or defer dividend payments, as the country remains in a state of lockdown due to the rapid spread of the coronavirus. Some of the largest banks listed on the London Stock Exchange are due to return cash to shareholders in the form of dividends over the course of the next two months. Barclays is set to get the ball rolling on a bumper payout season for bank shareholders, with a payment of £1bn due on 3 April. 'Exercise in survival' for companies as Artemis Income preps for heavy dividend cuts HSBC will follow with a $4.2bn payout due on...