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Four out of five of the UK's biggest banks fought to maintain payouts
Four out of the UK's five biggest banks fought to maintain their dividends against the wishes of the Bank of England.
Bosses at all of the lenders, except taxpayer-owned RBS, initially baulked at the idea, and only made the announcement after heated phone calls with the Bank's deputy governor Sam Woods.
https://www.pressreader.com/uk/daily-mail/20200404/282995401979963
Totally agree can see it must hurt if anyone bought in at higher levels, but lets face it its a gamble similar to horse racing or the casino, no one really knows what’s going to happen i just go with my gut feeling which is buy as its goes down below my average, worked well for me so far but who knows my guess and thats all it can be, is close to 40p next month or so, if not hang on in there.
Well sure, I bought in at 45p to claim last years div, then a week later it went to 33p so bought more. Hey ho. I'm a returning shareholder, I got out 10 years ago, had enough. Although things are different now. It's taken 10 years to fix the HBOS nightmare. Antonio went ill remember when he first took the job due to the billions of shocking levels of risk (100's of billions I hear). Capital is now sorted, risk is massively reduced. PPI is almost over. We are about to enter the golden years again, just as the virus hits. In some ways it's a blessing buying the bank on the cheap, just as it's about to turn good again. Maybe I'll be proved wrong,but I'm looking at 2021 and 2022 with buy backs as the time to enjoy the investment.
What's more surprisingly is that Lloyd's is still trading so low
UK PLC is now returning to work with bundles in savings
No one has spent anything for 3 months
Lloyd's Banking Group will be the big winner's in the long run IMHO
There are a lot of people that can remember hundreds of posters on here over the years that have talked about Lloyds being cheap and what the future holds. Ten years ago Lloyds was 70p and people were forecasting £1.00p by year end. Well, it's never happened and yet there are still people who believe Lloyds will deliver. Being nonchalant and forgetting about the dividend is like throwing money down the drain. It's letting the Board continue to treat shareholders like dirt. The £600 million that belongs to us and yet is iñ Lloyds coffers goes back to the 2018 financial year which ended 18 months ago. It was from a suspended share buyback which is not required as the remaining PPI provision is more than adequate. The Bank have no justifiable reason to withhold it and there are a few million elderly pensioners that could benefit from having it in their Bank accounts to spend in the wider economy.
Exactly. If the bank fails, it means the entire country is broke. All i hear is positives actually. More people trying the Lloyds banking App and liking it. More people fleeing the smaller banks for the big banks during the crisis. More people holding their salaries in cash at the bank (not spending) getting next to nothing interest remember. Great for capital right. More people using Lloyd's wealth business. Damn I've done 10 trades using sharedealing service myself. Hardly any claims on PPI for unemployment now, which might have been tons worse, if those policies were actively used. Most loans guaranteed by the gov, with probably any existing loans built into new low risk loans if they wanted more funding. Lloyd's lending mortgages with high LTV, shifting to low risk last 5+ years. I honestly struggle to understand the share price.
I agree I've moved on but I let's not let and Antonio and Sam woods forget the force of hate towards the cancellation of our promised 2019 Dividend income that was Budgeted to pay our 2020 bills
Don’t think about what could of been, dividend is past news its cheap and will rise, same as BP and shell
So very well put . Dividend is a ship that has sailed . Top up on weakness and assume we will emerge from this crisis and rely on capital appreciation from as low an average as you can afford . If LLOY sinks we are all screwed anyway !!!
What is the point banging on about a 2.25p div. When the share price is now 30p not 60p. Booking a huge provision in the first quarter is the banks way if saying. "We're not happy about that div, we're book a provision in advance before it 'might' hit" and reduce our tax bill. "Win-win". Assuming the bank is sitting on the cash, we will get it back in 2020. No boss is going to fight with the BoE or the regulator during a crisis. The bank has clever people, this year is about playing the strategy game. Besides assuming you back the bank, we're looking at potential 14%+ annual return at PPI trading condition next year (on any shares you buy now). We know the worse case of PPI is now over. Then I hear of huge demand on mortgages right now and wealth side of the business. People are sitting on piles of cash, no lunch time sarnies, train fares, coffees or trips out for months. You've got a massive opportunity in this crash, but you're focusing on the div rather that loading up with more shares. Strange. Woykx you rather pay 60p and get your 2.25p div?
Oxo, I think it's just a very thick and solid stone wall we're banging our heads against. The one thing I would find helpful is the suspended buyback from the 2018 financial year. Neither Sam Wood or anyone else other than the shareholders have a call on this and it's worth about 0.9p per share. The buy back was suspended because of the rise in PPI claims, but according to their own statement at the AGM they have more than enough set aside for this. So it's time the lazy Board recognised the shareholders and made this payment from the money set aside 18 months ago. Sam Wood can go and walk a plank on this issue. He has no remit to contest it.
Yes, Sam Woods is another on a non contributory pension who doesn't reply to emails, along with the Governor of the B of E.
Is the crook that stole our dividend.