Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Have seen Hawklords,jolly good too.
Banks to 'repay the favour' ??? - REALLY?? - Lloyd already did !!! - Lloy was asked by the then Labour Gov to save HBOS - Doing 'that favour' cost Lloy £bn's & £bn's in Ppi and is still addressing the Reading branch issue - Lloy also repaid all the bail out cash + interest + divi's years ago!!!
The 'favour' was repaid long time ago !!!
"Plenty of other good companies outside of this sector. Imo Banking shares will recover but only when the economy picks up. Why not diversify?"
Because i can see problems everywhere, look at oil in the shadow of the price war and demand destruction due to the virus. Look at non essential retail, travel, hospitality, manufacturers like cars, airlines and others. Most sectors are impacted by the virus, so why diversify into other risky sectors. There are a few sectors that look attractive, like food retailers and utilities, butlots of investment is heading there already and as i'm in no rush to see immediate returns, i would be happy to wait things out.
fleccy.
Plenty of other good companies outside of this sector. Imo Banking shares will recover but only when the economy picks up. Why not diversify?
Banks must 'repay the favour' to taxpayer after 2008 crash
"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."
I have over 200,000 shares in Lloyds, so the dividend suspension is significant for me, but there are opportunities on the back of this. I wont be adding any more to Lloyds holding, but I've had my eye on HSBC for a while, but avoided at a valuation over £6. With the ISA top up's allowed next Monday i'm seriously thinking about adding HSBC to my ISA holdings, just debating whether to wait until the Q1 earnings release on the 28th April, or buy next week should i decide to jump in.
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.
restored.
If a declared dividend can be suspendid, a suspended dividend can also be rstored sooner if the coronavirus gets sorted earlier than expected imo.
Citigroup analysts called the decision a "disappointment", arguing that British banks were in a strong position to maintain dividends as well as support the economy. Ian Gordon, a banks analyst at Investec, said the move was "pretty shameful".
I couldn’t agree more. The final dividend is based on last years performance and results it should be paid! GLA
Wealth is health, cash is simply a resource.
Richard,
Considering this latest hammering for shareholders, I must agree with you. Many of us saved hard, but seen interest rates gone to pot. Largely as banks don't need savers thanks to hundreds of billions of QE, which also hugely boosted their profits.
Now, with little lending being done thanks to housing markets & much else in limbo, this divi cancellation is just a way of banks further boosting profits. Will Directors see overly-generous bonuses slashed on the same scale as shareholders are hit? No chance!
So I agree. Spend what you have on whatever takes your fancy. In retirement, claim all you can off the state. Because when we try our best to make our money work for us in other ways, we still end up being cheated out of any growth. - Take care.
I'm afraid it's another example of the thrifty and the savers being shafted yet again. Best to spend everything and let the state take the strain. There's no incentive left and the Government just treats the banks as cash cows to bail out the economy when needed.
After 9 year of bearing the brunt!
Shareholders get shafted again, was expected future Div would be in question, and would be driven but future results, but 2019 year end was done and dusted.
They forget that many pensioners were counting on this money!
Daylight robbery, no other words for it.
Many thanks!
Tell me about it - as an ex employee with quite a bit of deferred compensation in shares that I can't sell its awful. The dividend was the only positive. Thanks for replying! I think better buying large US Banks as they usually recover faster and will make money from volatility in commodities, bonds, shares and FX all of which Lloyds has very very little.
ScandiExpat,
Yes, that is my reading of the RNS. Final 2019 payment cancelled. All of 2020 cancelled. Money to be retained in the business and what would have been the dividend will not be put to one side for later distribution.
Correct...this is the worst share in the FTSE100
Am I right in saying this means no dividend payment for year 2020 and no final dividend payment from 2019?
Wed, 1st Apr 2020 07:00
RNS Number : 3189I
Lloyds Banking Group PLC
31 March 2020
This announcement contains inside information 31 March 2020
UPDATE ON DIVIDEND PAYMENTS
In order to help us to serve the needs of businesses and households through the extraordinary challenges presented by Covid-19, the board has decided that until the end of 2020 we will undertake no quarterly or interim dividend payments, accrual of dividends, or share buybacks on ordinary shares. In addition, in response to a request from the PRA and to preserve additional capital for use in serving our clients, the board has agreed to cancel payment of the final 2019 dividend in relation to ordinary shares. Accordingly, resolution 17 in relation to the declaration of that dividend will be withdrawn from the AGM, scheduled to take place on 21 May 2020. Our board will decide on any dividend policy and amounts at year-end 2020.
The person responsible for arranging the release of this announcement is Douglas Radcliffe, Group Investor Relations Director.
- END -
ALSO-
The Directors and Others will NOT get CASH BONUSES, can we the shareholders also get confirmation then, that
NO Director and Others will also NOT get any DIVIDEND Preference shares as part of their Contracts ???????
What's good for one group, has to be seen as GOOD FOR ALL !
I am so glad I got out of this share at 63p.....I reckon this will be 20p before too long...then I will jump back in because once this is all over then it will steadily bounce back...
https://www.investingcube.com/lloyds-share-price-falls-as-dividend-freeze/
Lloyds Share Price Technical Analysis
On the Lloyd’s hourly chart, we see that the share price was trading in a descending triangle pattern until Wednesday last week, when it broke-out in the upside. This turned out to be a false breakout, since the price is flirting with its diagonal line. I expect the Lloyds share price to move back to the previous triangle pattern and possibly move below the support level of 29.93, which is the 9-year low.
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Lloyds Share Price 1-Hour Chart
Lloyds Share Price
Worry not guys if the message from the BOE and Lloyd's board is to be interpreted correctly ,the divi payment is being postponed till the end of 2020 Yeah? thats ok then, like hell it is,
The board have bent over and let the BOE give it them up the arse and the board like it because they get 2.5bn of our money to play with .
The whole scenario stinks to high heaven and the collusion is obvious in manipulating shareholders rewards to the advantage of the BOE.