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Asperger these are the key nos(sorry can't get cut and paste to work)
all figs in £mill
2021 2020
underlying 3409 3537
impairment 656 (3818)
underlying profit 4065 (281)
so last year impairment were a reduction to profits of 3818,(ie they set aside that amount against bad debts) this year were an addition of 656(they added profit back because the bad debts were less than expected), the major reason for the turn round in the results as actual profits were a tad lower
Hope that's clear and apols for the scruffy formatting!
Today's Headline -
Lloy decide to withhold £bn's of shareholder money until May 2022
Lloyds have always been clear on their progress dividend policy with specials / buybacks only being decided on based on full-year results, they don’t down tools just because the new guy hasn’t started yet, they carry on moving the business forward.
MC
No special with interim announced - new CEO starts soon - investors need to be patient for extra returns from excess capital sitting on the balance sheet.
'Pan
New CEO hasn't started in the job yet'
I think that's a key part and probably why there's been no announcement on dividend buybacks or specials. I'm sure he would have been consulted so maybe there will be more good news once he's taken his seat.
If there was a dividend special, would that have been annouced today?
casipinos - ????? - I'm seeing . . .
Underlying profit before impairment..3,409
Impairment..............................................656
Underlying profit (loss).........................4,065
southcoastbather
Posted in: LLOY
Posts: 272
Price: 46.745
No Opinion
RE: 2:30pm+....28 Jul 2021 15:59
Judging on BARC today you would have to guess on a morning rise followed by a sell off tomorrow on LLOYDS -
Right theres the morning sell off now hope for a rise through the day - This share is so over traded...
Pan
New CEO hasn't started in the job yet
foolsgoldfools
"Well I did tell you all red open should have listened to the fool lmao"
Open price 47.5p
Any comments numpty? LMFAO
'Pan
Extra returns will probably be made at full year results'
Let's hope so. The results are good. I'm just a bit disappointed this morning. Mixed emotions. Must stay positive.
I'm surprised the shares are up this morning. I'm going to vote against the board with my holding. There should have been some token special divi to compensate for the loss of the cancelled divi in my view.
Pan
Extra returns will probably be made at full year results
the opening share price is bizarre... profits up 100%+ ... share price up .8%.... FTSE companies really are avoided...
I guessed the divi @0.57p and they've announced 0.67p so I should be pleased with these results. But after seeing Barclays results yesterday I was hoping for better. I don't expect the share price to fare well over the next few months. They keep mentioning dividend accrual.... What on earth is being accrued?
Asperger , if you look at the detail of todays figures almost ALL of the profit comes from an adjustment of bad debt risks(impairments), half to June 2020 -£3.8 bill , half to June 2021 + £656mill. That is a ONE OFF which will not be repeated ,progress from here will be positive but MUCH slower , so a cautious divi is sensible despite the ill informed moans here.
Faulkes -
Comparing first two quarters of 2018, 2019, 2021
(2020 was a right-off due to covid)
dividend irrelevant for me. building a profit making machine more important.
Faulkes
His Q2 is Half year running total
Barclays dividend will give yield 3.5% and the majority of their investors on the Barclays BB yesterday were made up with that. Lloyds dividend is going to give a yield of 4.3%, so better than Barclays, yet most of the investors here are not pleased? Well sell up and move on then! I am more than happy with this. I consider that total dividend for year of 2.01p is the base from which it should grow every year. I will be holding long term.
Asp1 do you mean H1 and H2 instead of Q1’s and 2’s?
As I had already posted , the dividend would have been a lot less if the quarterly policy had got underway based on the previous years total of 0.57p - Combined total of 0.228p for June/Sept
To put today's interim in Context
2018 Results
Q1 Underlying £2.0bn Pre tax £1.6bn post tax £1.15bn
Q2 Underlying £4.2bn Pre tax £3.1bn post tax £2.27bn divi 1.07p
2019 Results
Q1 Underlying £2.2bn Pre tax £1.6bn post tax £1.2bn
Q2 Underlying £4.2bn Pre tax £2.9bn post tax £2.2bn divi 1.12p
2021 Results
Q1 Underlying £2.07bn Pre tax £1.9bn post tax £1.4bn
Q2 Underlying £4.06bn Pre tax £3.9bn post tax £3.865bn divi 0.67p
Now ask yourselves …
If they are giving circa a quarterly div as a half year div. where is all that surplus cash from the last 2 years?
Spot on. It's all about the II's not the little PI's.