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"It is our firm intent, over time, to return a greater proportion of our earnings to shareholders, both through the annual dividend and in other ways", Barclays Chief Executive Jes Staley said in a statement.

Its shares ended the day 4.4% higher as the bank said it was aiming to more than double its dividend for 2018 to 6.5p per share.

Laith Khalaf, senior analyst at Hargreaves Lansdown, commented: "Arnold Schwarzenegger and Donald Trump don't always see eye to eye, but they have double-teamed Barclays, with the bank's full year profits dragged down by USA tax reform and a PPI campaign fronted by everyone's favourite bodybuilder".

Total income fell 2% to £21.2bn as weak market conditions hit revenue in the corporate investment bank (CIB) in the bank's global arm.

Revenues fell in all areas of the investment bank in the final quarter, partly because a drop in the value of the USA dollar translated into lower reported revenues in sterling.

The bank is also facing a hefty fine in the USA for mis-selling mortgage securities and criminal charges in the United Kingdom for its 2008 fundraising.

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He added: "Although we are only seven weeks into the first quarter ... we are pleased with the start to the year, and in particular in the markets businesses in CIB (corporate investment banking)". Barclays London-listed shares climbed 4.4% to 211 pence in trading Thursday.

"We feel very good about the underlying performance of all those lines", said finance director Tushar Morzaria.

Admittedly Barclays hit a cost target of £14.2 billion in underlying operating expenses, and a headline minus-3.6% return on tangible equity becomes 5.6% when misconduct and litigation costs and a revaluation of Barclays' US tax assets are stripped out. The group's pre-tax profit, however, rose by 10 percent to £3.54 billion in 2017, and customer deposits increased 2 percent to £193.4 billion.

It was pushed into the red by £2.5 billion in previously-announced losses from the sale of Barclays Africa Group and a £901 million charge from the U.S. president's January 1 corporate tax changes, as well as a £127 million blow in the fourth quarter from failed outsourcing giant Carillion.

Shares in the bank reacted positively to the results, with investors likely focusing on the pre-tax profit figure.

It also booked an additional £240m provision relating to alleged foreign exchange manipulation.


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