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Where's the Telegraph money gone, or has it not been added to the balance sheet yet
They don't care about the number. M the excess will disappear as it did with ppi and COVID diving holdback. BOD are robbing us blind in favour of pumping billions into HMG's broke coffers. This is only going to get worse with a labour government. 38p past ex div
Stunned that they took a provision for the car loans. How can they possibly know the number when the FCA hasn’t reported yet? They even say in the explanation for the provision that they think they were compliant with the rules at the time. Under accounting standards you are only allowed to put up a provision when the loss is “incurred” (although some leeway as to how that is defined). Problem is it will encourage the FCA to go for redress.
Otherwise as expected. They paid the £250m remaining pension deficit payment in December, so at least that is now dealt with.
Chid,
You could talk a glass eye to sleep.
Even the overly negative FTSE market makers are now struggling to project today's results in a negative manner, it seems. Onwards and upwards
Lti, no matter how you try to spin this: " monies set aside for dividends are determined by profitability and policy NOT a share price", such doesn't alter the FACT that to maintain the 'current yield' now being paid, should the share price double, then Lloyds would have to dedicate double the share of the profits to pay such.
Hence it is easier for them to have a 'low' share price by constantly bending over to Gov inspired stealth taxes to KEEP the market from placing a higher price on Lloyds share, so then they can still be 'seen' by buyers as a reasonable buy.
Whereas should the share price double, then UNLESS they made £b's more in profit to pay out to maintain that dividend yield, the yield would fall to half if ONLY 'earning' what it does now.
So again I say Lloyds prefer the lower share price.
As you will be rather busy today, 'Defending the naked Emperor' from those who have more vision and can bring themselves to admit what a poor 'investment' this has been for Lth's, then I am not going to spend hours disagreeing, for I know you enjoy twisting the meaning of posts in a vain attempt to prove yourself right, as to be seen as anything else, to you, would be 'unfathomable'
My predict yesterday was a 2.2b buyback, and 10% hike on div and was assured, wrongly by many that a provision would not be 'right' to be set aside for the Car scandal, which I wrongly assumed they might be right. They weren't, my initial thoughts were, and they did. Rolling over, yet fools will 'still' think we will be 'getting that back as a 'special' one day.
Just a tiny first instalment imo
Time and fools will tell no doubt.
Chips - 64p by 31 Dec 2024, have you been drinking?
I admire your positiveness though.
LTI I agree. I bought a car a few years ago, finance rate with dealer 8%. Ten mins online and found Sainsbury bank rate, 2.8%. Bit of a joke really to try claim something any person with an ounce of sense would go and compare other rates.
I think the bank also messed up with the results doing the usual PR guff of saying we contacted 7.5million customers (ie look how caring we are). Traders on the other hand probably thought, there’s 7.5 million people struggling with repayments/ loans/ mortgages etc… tanking the share price of future debts can’t be repaid and further write offs occur
Overall, a reasonable set of results with no nasty surprises - car loan provisions already expected, overly negatively reported and may yet not materialise to the dire extent predicted. Added earlier on this basis and fully expect a bounce-back in Sp by close of day.
Tyvm gl&atb.
Very soon, probably tomorrow or Monday
Lti..im being lazy..are buybacks to commence immediately ?...tyvmia..
The price is getting better...back over 43p......if it stays there I'm happy
Mar
The only 'blame' for a car purchased with interest on borrowing at X% is the person deciding to make the purchase.
https://www.moneysavingexpert.com/loans/personal-car-loans/
Great Results we have lift off
This is the last call Lloyds Banking Group 42.5p per share yes 42.5p per share in the whole group :)
which is worth 65p broken up DYOR IMHO
What a bargain BUY BUY BUY
Buy and Hold for reward
Love & Light
Chips
64p end of year
Am surprised the share fell after the initial rise, these results are not that bad and forward looking better returns for shareholders
Sed
''Much more provision to come from motor finance in the future''
why is that?
Just a provision only and not spent yet and it could be that the middle brokers or the car sales persons are to blame as tmost work on low salery and high commision , plot thickens
Results good . Div and buyback in line with my expectations.
Much more provision to come from motor finance in the future even though the FSA do not report to the end of the year.
So it is sell off Thursday and Friday this week
Natwest?
NuckyT
Goodbye - decisions now on an alternative to get your 7+ %
NC
'' IF the share price doubled, then to maintain that same yield they would need to 'double' what they pay out to investors in divs.''
Have you STILL not learnt anything on this matter - monies set aside for dividends are determined by profitability and policy NOT a share price
Distinctly average results today. The divi and buy back is as expected, but the provisions for car loan debacle has demolished any chance of a share price increase until the scandal is put to bed. Business wise, good fwd planning, but dire for shareholders. This time next year Rodney…
"Never to be back. GLA"
How many times have you said that since January? Are you sure this time? 🤣🤣
Looking to leave at a advantageous SP -may get 45p at some point