Well I guess its a vote of confidence and a start. Cant help but think the money may have been better spent buying back Govt Shares, but I'll take it. Any idea if we can just sign up to reinvest the divi straight in or does it have to be paid out and then reinvested to make sure the brokerage gets their cut?
I expect the call to decline further still with the new legislation coming in in April to curb nuisance calls. Andes I ma sure we will continue to see write backs as part of the "rehab"process as for institutions I ma sure they will be loading up direct from MS. the mkt will respond to AHO's tone at the meeting this morning.
What is important here is not the amount, it's the fact that the BOE have sufficient confidence in Lloyd's recovery to allow them to pay a dividend. OK, it's only 1% but Lloyds were one of the top ten dividend payers in UK. This is the first step on the road back to that list. This is why the institutions will now start to load up on LLOY shares. Once the government have finished offloading their holding this bank will go back to the status it once held.
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