Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 217

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 217
---
 That shareholder feedback was invaluable, and our proposed DRP reflects their input, striking a balance across the relevant factors. Reflecting on that, the Committee considered a range of different options to achieve the objectives of the DRP review. We have detailed more of the context and rationale for the proposed DRP changes from page 124, and the full DRP is shown from page 130. The Committee believes that the proposed DRP is the right thing to do to support our strategy and the delivery of our three-year plan. We encourage shareholders to vote to approve the proposed new DRP and amendment to our LTIP rules at our 2025 AGM. For more details of our DRP review, including the context and rationale for our proposed changes, see page 124 Strategy Shareholder information Climate and sustainability report Risk review Financial review Financial statements Barclays PLC 2024 Annual Report on Form 20-F 112Governance Remuneration report

Performance in 2024 In 2024, we completed the first year of our three-year plan to create a higher returning, more strongly performing Barclays. We are pleased with the progress we have made. All five of our operating businesses delivered solid income performance, resulting in Group income of &pound;26.8bn, up 6% on 2023. These results reflect our continued focus on the quality and stability of our income mix. We continued to invest in talent and technology while maintaining our focus on costs and delivering &pound;1bn of efficiency savings across the Group. Our profit before tax was &pound;8.1bn (2023: &pound;6.6bn, or &pound;7.5bn excluding structural cost actions of &pound;927m taken in the fourth quarter), RoE was 9.1% and RoTE was 10.5%, achieving our greater-than-10% target for 20241. We ended the year with a CET1 ratio of 13.6%, within our target range of 13% to 14%. Capital distributions announced in relation to 2024 were &pound;3.0bn, in line with our guidance of being flat on 2023. This includes &pound;1.2bn of dividends, enabling a 5% increase in our dividend per share to 8.4 pence per share for 2024, and &pound;1.75bn in buybacks. Each of our businesses contributed to this performance, and