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That will really console the millions of Americans that have been put out of work.
Who when they are queuing up at Foodbanks etc to survive ,knowing that shareholders in their Banks are still being paid their Dividends.
nasdaq.com
Report: Federal Reserve Likely Won't Order Dividend Suspensions at Big Banks
https://www.nasdaq.com/articles/report%3A-federal-reserve-likely-wont-order-dividend-suspensions-at-big-banks-2020-04-04
2227 OK - the Government/Banks have robbed you of your dividends.
Get over it and move on.
Sorry Hongkong.
No bank in China, Honkkong, Taiwan,Japan, South Korea or Singapore have taken away the dividend for 2019. We're talking about last year's dividend from last years profit which was about to be paid now. Shareholders are also humans and they are effected by this epidemic just like others. Banks are private companies owned by their shareholders . If they are not allowed to pay a dividend because of the crises ,then no other compney trading on the stock exchange should.
Same law should apply to everyone.
2227
Do you still not accept or understand why your bank dividends have been cancelled.
When we are facing a deep UK/Global recession.?
That's what they said a month or so ago.
"We are pleased to announce that, subject to shareholder approval at the Annual General Meeting, we will pay a final ordinary dividend of 3 pence per share and a special dividend of 5 pence per share. This year, our total ordinary dividend of 5 pence per share is excluding the post-tax FX recycling gains of £1.6 billion, given this is purely an accounting adjustment. If approved, this will mean that we have returned £4.2 billion in capital to shareholders since we resumed dividend payments in 2018, of which £2.6 billion has gone to the UK taxpayer.Looking ahead, we expect to maintain ordinary dividends of around 40% of attributable profit "
In RBS's case, Dividends are a somewhat recent phenomenon after the debacle of 2008 when, in truth, it should have been broken up. So I accept that although it was not RBS' decision to cancel, the levels of Dividend being paid were always susceptible to reduction, albeit outright cancellation was not on anyone's radar.
For those who are recent investors here, be they looking for a quick profit on assumption the current SP simply HAS to recover or, those who are simply hoping to see a longer term recovery in its SP should, IMO, reflect on the single fact that Banks' profits/performances are inherently cyclical by nature and whether you should be investing in them ahead of what is likely to be a record breaking recession for the UK (if not Global) economy, is a question many should be asking themselves, again, very much IMO.
I hope those who have bought in, know what to expect in a Bank when a full blown recession hits......and it will.
B
Noel Quinn, pictured, sent a letter to each of the bank’s shareholders in Hong Kong on Friday. Photo: AFPNoel Quinn, pictured, sent a letter to each of the bank’s shareholders in Hong Kong on Friday. Photo: AFP
Noel Quinn, pictured, sent a letter to each of the bank’s shareholders in Hong Kong on Friday. Photo: AFP
HSBC chief executive Noel Quinn sent a letter to each of the bank’s shareholders in Hong Kong on Friday to explain the lender’s decision to cancel its dividend this week and reassure investors of its strong capital position.
The unusual step of writing directly to the bank’s shareholder base in the city came after a torrid three-day stretch that saw about US$15 billion shaved off the company’s market capitalisation after the bank cancelled its final interim dividend for 2019 and said it would not pay a dividend for at least the first three quarters of the year.
HSBC was one of seven banks and building societies based in the United Kingdom that agreed to cancel their dividends early on Wednesday and not to undertake any share buy-backs this year after a request from the Prudential Regulation Authority, a regulatory arm of the Bank of England.
Calling it a “sensible precautionary step”, the watchdog asked HSBC and the other banks to take the step on Tuesday night London time to ensure they would be able to continue to support the wider economy in light of the coronavirus pandemic, which has infected more than 1 million people worldwide and probably sent the global economy into a recession.
“We profoundly regret the impact this will have on you, your families and your businesses,” Quinn said in the one-page letter, which will also be posted on the bank’s investor website. “We are acutely aware of how important the dividend is to our shareholders in Hong Kong. We deeply value your support as a shareholder and we never take that for granted.”
Business / Banking & Finance
HSBC boss Noel Quinn writes letter to reassure Hong Kong shareholders after sharp three-day drop in stock price
HSBC cancelled its dividend, suspended buy-backs on Wednesday after request from UK regulator
https://www.scmp.com/business/banking-finance/article/3078394/hsbc-boss-noel-quinn-writes-letter-reassure-hong-kong
2227: if it turns out the company needs to hoard divis to stay afloat, it’ll have saved what’s left of your holding. If, as is much more likely, the divi isn’t needed for that, then it’s merely a postponement and you’ll get it later. Investing takes patience in numerous way, we just didn’t expect this.
Mally,
I feel your pain but hopefully you can get through this.
My wife was nearly in tears reading your predicament.
As for your investment you are in for the long term and if you can, try to hold on as things will turn around.
The whole community must get together and support each other and then and we can all come out much stronger in the end.
ATB
Mallys83: you’ll be fine mate - hang in there. 36 is no age in terms of investing. Investing in something like RBS is rewarded handsomely over many years, and there’ll be plenty ups n downs along the way. You’ve only made a loss if you sell. Turn off your laptop and go do some shopping for a neighbour or weed the garden or something. Try make the most of your new found spare time. Keep your chin up and stay safe :)
That's really nice of you bubbleburster doing that. I am in a bad situation myself just now. No work and I did put £6000 into RBS shares at £2.35 a share that is now worth less than £3000. I have been hit hard and I now only get 80% pay of my minimum wage pay. I was thinking about my future investing my money as I am only 36 years old. My savings are going down and I hope that I will go back to work. I have been told that it could possibly be June before that happens. I will just leave the money in RBS shares now as I believe they will come back to what I paid eventually. I will not be betting on virtual racing grand national or anything like that even though it all goes to the NHS the profits. I need all my money for food and Bills. Take care everyone. Thank you to everyone that's helping food banks etc.
If anyone else out there agrees with 2227, then i stand corrected,
From a personal point of view ,my wife and myself have found like probable many households up and down the country, that are weekly expenditure has fallen quite considerable, as we are only spending on essentials etc.
We took the correct decision in my opinion, to help by making further donations to charities and will continue to do so until this national crises ends
Many of you may not be in that position, but if you are please help others who are in need at this terrible time.
"And why should Investors be different from anyone else in society at not facing hardships at the moment."
Hard working citizens income which Ithey saved and invested here so that they're not burden on the state has halved in a few weeks. It's acceptable up to there, but taking away their income is not.
Robbery of our Dividend!!
And why should Investors be different from anyone else in society at not facing hardships at the moment.
We are the lucky ones that we have money behind us to able invest.
Many families up and down the country who do not have savings etc and are facing real hardships at the moment.
Don't keep bleeting on about losing your dividend,
I repeat we are all in this together and if you can, please help others more vunerable tham ourselves via many charities at the moment.
This from the IMF yesterday which puts everything in to perspective.
The Managing Director of the IMF has just made the following statement-
The coronavirus pandemic has created an economic crisis “like no other,”
“Never in the history of the IMF have we witnessed the world economy come to a standstill,”
“It is way worse than the global financial crisis” of 2008-09 said Kristalina Georgieva, managing director of the IMF.
Speaking at the World Health Organization’s headquarters in Geneva, Georgieva said that this was “humanity’s darkest hour, a big threat to the whole world and it requires from us to stand tall, be united and protect the most vulnerable of our citizens.
"Banks need more than ever as much liquidity as possible to support business's at the moment."
That's easy to say if you are just a daytrader.
Investors are also facing the hardship. The money we had invested here has halved in a matter of weeks. Last thing we needed was the robbery of our dividend, which was an important source of income for many retired people.
AGM 29th April - Shareholders will be able to submit questions in advance of the AGM, and answers to questions on key themes will be displayed on www.rbs.com/agm as soon as is practically possible. Details of how shareholders will be able to join the virtual shareholder event and submit questions will be available shortly on www.rbs.com/agm.
Banks need more than ever as much liquidity as possible to support business's at the moment.
Many small and large business's will likely go bust with many, if not millions of people put out of work.
Just think of the effect that will be on the lives of hard working families that will make.
The majority of us who invest in the markets are lucky to have capital behind us, so a loss of a few pence dividend is of no consequence.
We are all in this together
Something needs to be done about the divedends banks have enjoyed good profits and investors should be rewarded too. Pension funds and hard working families pay in as the government forced upon us . This state of affairs is unlawful a dip in the pond compared to the extra trillion national debt how can we all be so blind
SoR,
Yes i noticed that on Tuesday
Catching a falling knife at the bottom, is never easy though.
I just think RBS may have a bit further to go yet but i could be wrong, as i have been many times in the past.
BOL
BB
BB,
DRX seems to be heading up after director buys. Perhaps we need the Rose and Murray to do likewise. A lot can change in a month, which is the length of my contract.
Regards SoR
SonofRobin,
You and I must be nearly on the same wave length
I purchased Drax yesterday but not reinvested in RBS as of yet.
BOL
BB
Today bought in at 102p..........BARGAIN, I think.