Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Easyjet paid out £174m including £60m to the billionaire Stelios...he needed it...not....then asking for Gov assistance albeit a repayable loan.
Its convenient for central banks to forget the qe asset repurchase programme actually pays for public servants salaries and pensions. Barclays SP has been ravaged as a result of loose monetary policy. It adds insult to injury to suggest the div should be cut. Stop funding the public sector with qe money 1st.
Barc should pay divi not suspend or cancel. At a time when many people are seeing a significant squeeze on their incomes a decision at this late stage to not pay the declared dividend is outrageous and in the greater scheme of things retention of that capital would not see any increased lending by Barclays. As usual in troubled times the banks do all they can to hold on to as much of their cash as possible and it is the less affluent/those in need of financial support that lose out. The “rain/withdrawal of umbrella” scenario in all its glory and I know this is the reality after having spent nearly four decades in the banking industry.
BoE should lead by example and cut their pensions before coming near the market
No announcement as of yet...Barc should suspend divi not cancel it
Fine for the BoE to make that call when they have gold plated pensions. Since those products are becoming more scarce, more citizens are dependent on dividend income for their pension. What they mean is a wealth tax and equity drawdown on your home.
UK’s biggest lenders set to halt dividends after BoE warning!
The UK’s largest lenders are preparing to call a halt to dividends after the Bank of England warned them against paying out billions of pounds while the coronavirus pandemic drives millions out of work and small businesses into bankruptcy. In a series of statements expected as soon as Tuesday evening, banks will say they intend to stop dividend payments, in a move that will provide a greater cushion against potential coronavirus-induced losses, but disappoint some shareholders.
https://giftarticle.ft.com/giftarticle/actions/redeem/04ae79d2-909c-4b0a-8b34-70761711786d
I think we will still get the dividends in 3 days simply because it's already gone ex-dividend and long term shareholders took a hit when it did. Plus the payment of the dividend is from the profit they have already made. Any future dividends, I expect will be either cut or cancelled.
Don't forget banks will still be pulling in the revenue. I'm guessing it's just the last half of Q1 from mid-feb when their revenue would have taken a hit. Won't really know till they announce Q1 around the end of April.
I think the PRA will recommend something but it will be up to the banks. More importantly the banks themselves and the big institutional investors should decide this.
The PRA now look reactive after CEB got in first and Barclays being only 3 days away from payment! Would be a very poor show.
So you expect the value of business to halve based on deferral of a 7p dividend.. that makes no sense.. i believe its already priced in..
I would be against this, of course, as the dividend payment is just what retail investors need at the moment.
As mentioned, the UK banks have plenty of capital. The european banks have much less so and the CEB using a wide brush has infected the UK PRA with their virus should they make the same call.
I would expect an RNS announcing the cancellation of dividends.
Also be prepared to see the SP on the far side of 50pennies...
https://giftarticle.ft.com/giftarticle/actions/redeem/f4d8c8c2-080d-4690-bc0e-7c197b44a5ec
UK banks expect regulator to order dividend freeze.
Banks in the UK are braced for the country’s top financial supervisor to put a stop to £7.5bn of dividend payments due over the next few weeks in a move designed to shore up capital levels during the coronavirus outbreak.
The Prudential Regulation Authority, the supervisory arm of the Bank of England, is running out of time to make a decision on whether to block the payments, with Barclays due to pay a full-year dividend of 6p per share on Friday.
UK lenders, including Barclays, HSBC, Lloyds Banking Group and Royal Bank of Scotland, are expecting the PRA to advise against the payments within the next few days, according to several people briefed on their plans.
“We think the regulator will probably announce something soon,” said one.
Until last week, the PRA had been relatively unfazed by dividend payments going ahead as planned, according to one person briefed on discussions between the banks and the regulator. But the supervisor changed its stance on Friday, when the European Central Bank ordered eurozone banks to freeze dividend payments and share buybacks, they added