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May the Lord show us the way into the light
Sorry to hear about the banking dividend problems, it really is dreadful. I'd never say never but I cant see it with PLUS, in fact Im GUESSING they may well be re-introducing a special dividend or a significant increase to the current alongside more buybacks
Dividends are being cut for banks because they need to boost their balance sheets to be able to lend and will be expecting an increase in bad debts. Other companies are cutting their dividends because of the uncertainty around covid-19. There is no uncertainty for Plus500, it will be making considerable profit and cash flow from the current crisis and volatility across all the markets. They have a policy of returning much of the excess cash back to share holders. It makes no sense to cut dividends. I assume this will just likely result in an increase in dividends next year or a special dividend later in the year.
Indeed Tom. I have 190,000 shares in Lloyds so have been hammered. I just wish it would get to wine o’clock!! ATB
I know what you mean. Lets hope they don't pick on the insurers next as I have a lot of LGEN and PRU and nursing huge losses there, thank heavens for PLUS !
I hope so, as this has been painful! I’m just not, after all this mayhem, taking anything for granted!
Really can't see it here sheltie. Banks are essential for the economy as they were bailed out last time. Plus is more of a casino on the side running its own book.
PS as WM2020 quite rightly points out, it was suspended well after the ex-divi date. So we are not immune to it happening here sadly. Hopefully not - but we simply cannot assume anything anymore in this brave new world. ATB
Hi Mark yes the divi has been pulled under pressure from the prudential regulation authority. The shares had already gone ex div and the payment is not going ahead. They should have allowed payment of this dividend as they are forcing the bank to welch on an promised payment.
MarkBellUK they have all been pulled, irrespective of how geographically they are focussed. I lost more than I posted earlier as a I looked, it was actually going to be a dividend payment of £4,250 which hurts.
Barclays pulled their dividend two days before it was due to be paid, very sore one for shareholders.....
Im havent been flowing HSBC Tom have they pulled the dividend after agreeing at an AGM and post ex divi?
I would think this is safe as it’s not a bank and not liable to be recued bycthe state if it gets short of cash. As an hsbc shareholder I am fuming about it, anyone would have thought comrade Corbyn was in charge.
fyi I dont think they can legally not the pay the current dividend as it was declared and gone ex divi
My point exactly but you never know. They may opt, like the banks, to preserve their cash on a “just in case” basis. It aint paid until its in our Bank Accounts! Should be OK but thought it worth just being a little cautious, as I lost £3,675 just yesterday; which would have been my Lloyds dividend. Pants :(
They are making shed loads of cash why would they not pay the dividend?
They are making shed loads of cash why would they not pay the dividend?
Let’s just see that we actually receive the first one, before getting too ambitious denby69!!! I have had nearly £4,000 worth of dividends cancelled so far this week. Hopefully these boys will not also pull the dividend; given the cash that they are generating every day, they shouldn’t need to . . .but you never know! ATB
seeing plus are doing so well the might up the final div payment :-)