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https://www.investmentweek.co.uk/news/4013520/banks-attempted-defy-calls-scrap-dividends-reports
Juboy - 1000 shares @£1.47 , value £1470 ?
And you're worried. That's seriously F-all !
Some people have 50k in this like myself at 180p!
For a share that once traded above £20 (each), it looks as if a further defining moment in the Bank's history will shortly be made as the SP will crash below its equivalent of 10p (ie ignoring the 1 : 20 share consolidation stunt).
Exploring the scale and length of time for this decline (close to 20 years) might enlighten those promoting the case for a quick turnaround in the SP.
I wouldn't mind in the slightest if I was proved to be wrong with recovery of the SP.
B
Gutted about the cancelled dividends, I'd only just started to look at dividend income shares this being my first! I thought they had reached the floor at 147p so went in for 1000 shares nightmare!
Only owned this share for 24 hours and already regretting it - only bank down when its competitive set are up
Google finance cash to hand 79billion market cap 14billion. ? Buy at these prices
Looking good be happy for 110p finish rbs
This should recover to 120s soon
The Bank of England’s pressure on HSBC to cancel its dividend for the first time in 74 years has reignited a debate at the top of the bank over whether it should redomicile to Hong Kong.
Several people familiar with the matter said the BoE’s intervention had prompted anger among some board members and executives, with calls to reopen the question of whether the group’s legal base should move from London.
HSBC was one of five UK-based lenders that agreed on Tuesday night to withhold 2019 dividends, bowing to pressure from the BoE’s Prudential Regulation Authority, the UK’s top financial supervisor.
And 50% don't given know the had it ...lol
and the other 40% just get a mild cold symptoms
Look at Prince Charles he is already up and about after a few days and he is in his 70s
Soon as we get everyone tested, many will be able return to work and the stay at home holiday is over
HeresHopin
It's for easy for to you say this now, after the market has closed today down over 200pts, instead of last night when i made the posting or this morning before the markets opened.
I did say in theory the share price should rise, but did not predict by how much and also stated ,we will see.
Therefore i do not accept your statement, that i was being a little silly.
UK coronavirus cases could number 1.8MILLION as leading scientists predict one in every 37 Brits has caught the killer illness already
Report by Imperial College London predicted true numbers of cases in 11 nations
Spain is worst hit, they said, with 15% of the population infected already
In the UK this was thought to be 2.7% - around 1.775m - by March 28
https://www.dailymail.co.uk/news/article-8175263/UK-coronavirus-cases-number-1-8MILLION-scientists-say.html
The ex divi date was the 26.03.2020 so the share price has already dropped 8p on this date, surely they wouldn't drop the price by 8p again?
shouldn't the price rise by 8p now because they are keeping a hold of the money?
I have never come across a share where it has gone ex divi and then cancelled so confused to hell.
The price should have fallen by the expected dividend payment as the RNS stated it would not be paid for the foreseeable future, so in essence the shares are now trading ex-dividend. If shareholders had expected a dividend, then essentially they were previously pricing in the current price less a dividend payment to be made shortly. Now there is no dividend that XD date is brought forward.
This is a bit of a weird one.
I have googled this and cannot find an answer.
like you say i think the price should go up by 8p as it sounds like ex divi reversal
The Gov's volte face on the Banks' (as a whole; not just RBS) payment of Dividends rather reflects the similar U-turn on the UK's approach to the Coronavirus pandemic.
Both decisions accept the reality of today's crises and are undoubtedly the correct ones albeit for investors, disappointing.
As I have mentioned before, despite RBS and other major UK Banks being significantly better capitalised than before 2008's credit/finance crash, no Banks have modelled what is in effect close the entire shut down of global trade and economies of most developed countries.
So preserving cash has to be an absolute priority although the cancellation of the Dividend is likely to be a drop in the bucket when the non performing debt figures start to mushroom (and Banks have to allocate Capital against these etc).
Lets hope Sweden rapidly alters course on its Covid-19 measures before their casualties get too significant. Reading their leaders' comments, its almost as if they are time travellers from the WW 1 battlefields.
We really should expect more from our leaders, especially in times of crisis.
B
Looks like the price will go up with 8p tommorow:
Dear Customer,
Royal Bank of Scotland Group (LSE: RBS) has a new RNS.
TIDMRBS
RNS Number : 4132I
FTSE Russell
01 April 2020
Royal Bank of Scotland Group (UK): Cancellation of Special Dividend
Informative Notice
01 April 2020
Following the announcement by Royal Bank of Scotland Group (UK, B7T7721, GEIS Large Cap, FTSE
100) regarding the cancellation of its final ordinary dividend and special dividend (with
a declared ex-date 26 March 2020), FTSE Russell confirms that a negative special dividend
of 5p and a negative final ordinary dividend of 3p will be applied in FTSE Russell indexes
after close today (i.e. effective Thursday 02 April 2020).
For further information please contact FTSE Russell Client Services at info@ftserussell.com
or call: Australia +1800 653 680
Hong Kong +852 2164 3333
Japan +81 3 4563 6346
London +44 (0) 20 7866 1810
New York +1866 551 0617
Alternatively please visit our website at www.ftserussell.com
Terms of Use | Copyright (c) 2020 FTSE Russell
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
FTSIBMMTMTTMBLM
(END) Dow Jones Newswires
April 01, 2020 06:34 ET (10:34 GMT)
Thanks SonofRobin.
To be honest i didn't know that dividends could be suspended, Once they had gone Ex dividend.
I echo your thoughts entirely but i think we are facing a long challenge ahead of us.
RBS have announced they are suspending all dividend payments for 2020, as in line with other Banks
BOL everyone.
BB, acknowledge your foresight on this. Apologies.
Let’s hope conditions improve, such that divvies can be restored later this year. At least the cash is still sitting there.
No dividend payments until end of 2020.
RBS have announced this evening they are suspending dividends totalling 8p
In theory the shares should go up tomorrow as a reverse ex dividend but we will see.
SonofRobin said i was talking Total Tosh when i posted on the 12th, that the dividend could get suspended.
Well who's talking Tosh now?
thescottishsun.co.uk
DAILY life in Sweden is carrying on as normal despite the rest of Europe being in lockdown due to the coronavirus pandemic.
Despite a rising death toll, the government says offices, bars, restaurants, cinemas and gyms should stay open to prevent an economic disaster.
And although the Scandinavian country's relaxed "wait and see" approach flies in the face of all medical guidance it has no immediate plans to change its liberal ways.
PM Stefan Lofven has tightened restrictions in recent days - limiting gatherings to 50 - but insists there is still no need to follow the herd.
Its closest neighbours – Denmark, Finland, and Norway – have all introduced a no-nonsense lockdown strategy, closing schools, workplaces and borders weeks ago.
Norway has around a quarter of the deaths (34) than the figure recorded in Sweden (146) and insists its tough stance is already saving lives.
As of today, Denmark has recorded 77 coronavirus fatalities and Finland just 13.
But Lofven has said: "We all, as individuals, have to take responsibility. We can't legislate and ban everything. It is also a question of common sense.
@ 128p...
Just in case the dividend isn't cancelled ?
Had a feeling the divvy wouldn't be paid, so glad I sold at 1.40 the day before going 'ex dividend'!!
Think the markets will see that not paying out the dividend is a wise move and the SP will recover into the 120's soon.
Sounds like investors cheering up losing income for a foreseeable time.