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43.6p🤷♂️
For every set of results for years, I am to be found glued to my phone at 7am and then 8am hoping to see a sp increase and every time all I get is disappointed. Feel like an abused child that still somehow loves its parents
Car finance provision could also half.
Quadruple you mean
Car finance £450 million provision this could double
Share price is up slightly in Germany pre-trading.
Nothing not expected in the results, we have already taken a large hit this year so lets hope for a SP rise today
Moneyman,
Share prices move downwards for all sorts of reasons. Nothing to do with buybacks 🙄
Agreed - divvy all as per, buy backs are a slow way to improve sp but fine with me.
Its an income stock peeps yet even Lloyds might break 55p this year.
Share buybacks are most beneficial where a company has a relative small number of shares in a n illiquid market -not where there are billions of shares in a liquid market.
The shareprice was circa 66p in 2010 -this shows that the share buy backs have done very little-shows profits should be distributed via dividends and not useless share buybacks
Poo 💩 💩
Bang in line with what I was expecting. No dividend reduction as Chid and livestock suggested there might be. Solid results and another great chance to remove shares from the register at low prices enhancing shareholder value. More than happy.
Media definitely reporting on the positive side.
Thanks, that is good.
Underlying profits £7.8 Billion
earning per share 7.6p
statutory profits after tax £5.518 Billion
Lloyds Banking Group PLC (LSE:LLOY) profits declined in the fourth quarter of 2023 and it made a £450 million provision to cover potential costs of a motor finance probe, but the dividend was hiked 15% and a £2 billion share buyback is planned after a strong year.
The UK’s largest lender reported underlying pre-tax profits of £1.75 billion for the final quarter of the year, down 14% from the third quarter but in line with City estimates.
With the provision made to cover the potential impact of the recently announced Financial Conduct Authority review into motor finance commission arrangements, total provisions were £675 million in the year.
Impairments of £308 million were made, much lower than the £1.5 billion a year ago after improvements to the economic outlook and the repayment of a large debt.
For the full year, profits came in at £7.8 billion, up 11% on the previous year and matching analyst expectations.
The board recommended a final dividend of 1.84p per share, resulting in a total of 2.76p for the year, up 15%.
Given the bank's strong capital position, with £31.9 billion of common equity 'tier 1' capital for a ratio of 13.7%, the board announced plans for a buyback of up to £2 billion.
https://www.proactiveinvestors.co.uk/companies/news/1041519/lloyds-makes-motor-finance-provision-but-2bn-buyback-planned-1041519.html
Good morning G-Y Bears doomed to failure.
Great news Hello Kitty say s Hodl.
Https://www.cityam.com/lloyds-announces-record-annual-profits-and-announces-bumper-shareholder-returns-but-expects-motor-finance-probe-hit/
Lloyds announces record annual profits and bumper shareholder returns
Please do your own research as always and follow FCA guidelines.
Not a hope in hell and i would love to be wrong they have accepted the FCA by posting a provision
1.84p final dividend
Cue people saying it won’t be the full amount and the surplus will get written back into the profits just like they did each and all of the 20 times we made PPI provisions…
Will rise 10% today imv.
FT says there is a 450 million provision for the car loans saga.
What about the final dividend?
If I have to hear one more company I own shares in say to me they are returning capital to shareholders via buybacks........grrrr!! Haven't received a penny from buybacks!
Deltamachine,
"Buy backs should be voted on at agms."
They are and are overwhelmingly approved with large majorities.