My view is that an announcement in respect of the 2014 financial year of a dividend of between 0.25p and 1.00p per share is built into the current share price. Other factors aside, any announcement outside of this range will move the share price.
It would be easy to underestimate the political element in the decision making process. Banks are still the pariah of the business world and a dividend declaration may well be seen by “hard working people” as handing out the taxpayers’ money to the “rich”.
The opinion of “hard working people” is going to become increasingly important during the next few months.
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