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https://www.theguardian.com/business/2023/feb/22/lloyds-bankers-bonus-pot

Lloyds Banking Group staff will share their largest bonus pot in four years, despite the lender reporting flat profits as it put aside more money to protect against a potential jump in defaults amid ongoing economic uncertainty.

Lloyds, which owns Halifax and is the UK’s largest mortgage lender, said its top performing bankers would share a bonus pool worth £446m for their work in 2022 – up 11% from £399m last year and the largest sum to be distributed among employees since 2018.

The lender also revealed a £3.8m pay packet for its chief executive, Charlie Nunn. However, that is down 31% from the £5.5m he received in 2021, when he was handed a £4.2m buyout to compensate him for shares he gave up when he left HSBC to become Lloyds chief executive in August that same year.

Lloyds full-year profit flat as bad loan charge weighs
Wed, 22nd Feb 2023 07:15Thomson Reuters
LONDON, Feb 22 (Reuters) - Lloyds Banking Group reported flat annual profit for 2022 on Wednesday, as a jump in income driven by higher interest rates was offset by mounting bad loan provisions.

Britain's biggest mortgage lender reported pretax profit of 6.9 billion pounds ($8.4 billion), unchanged on the prior year and in line with analyst forecasts compiled by the bank.

The bank announced it would pay a 1.6 pence per share final dividend and a share buyback of up to 2 billion pounds, taking total shareholder returns for 2022 up to 3.6 billion pounds.

While British inflation has come off the boil, steep energy and food bills are still pinching household budgets and have raised the risk of people defaulting on loans.

Lloyds set aside 1.5 billion pounds over the year to cover potential defaults, compared to a 1.4 billion pound release of provisions in 2021 as the economy rebounded from COVID-19 lockdowns.

Lloyds' revenue leapt 14% to 18 billion pounds and it raised its medium and long-term outlook for returns. It is now targeting a return on tangible equity in excess of 15% by 2026, having previously targeted more than 12%.

Lloyds - which also owns the Halifax, Bank of Scotland and Scottish Widows brands - is the last of Britain's 'Big Four' high street banks to report full-year earnings, after HSBC, NatWest and Barclays.

Rivals have reported robust profits but struggled to convince investors the boost from higher central bank rates - enabling them to cash in on the widening gap between what they charge on lending and pay out on savings - will be long-lasting. ($1 = 0.8256 pounds) (Reporting by Iain Withers and Lawrence White, Editing by Sinead Cruise)

In early corporate news, Rio Tinto reported a sharp drop in annual profit, as it followed mining peer BHP in scaling back shareholder payouts.

The Anglo-Australian company said pretax profit in 2022 was USD18.66 billion, dropping from USD30.83 billion a year before. Annual revenue came in at USD55.55 billion, down from USD63.50 billion.

Rio Tinto proposed a final dividend of USD2.25, compared to USD4.17 a year before, bring the annual total to USD4.92, down from USD7.93.

"Despite challenging market conditions, we remain resilient because of the quality of our assets, our great people and the strength of our balance sheet," said CEO Jakob Stausholm
gla

One buy add order set 540p.
To be honest I don't want it to trigger, Id rather see the continued upward trend...hey ho, perhaps a breather until Q1 and higher oil prices.

gla

Bull/Bear speculation, market-owned media spin.... what's new?

The Dow closed almost 700 points lower on Tuesday, and the S&P 500 and Nasdaq 100 slipped 2% and 2.5%, respectively. Investors were worried after Treasury yields surged to their highest level since November and disappointing forecasts from heavyweight retailers added to concerns that inflation and higher interest rates have started hurting the purchasing power of US consumers. On the corporate news, Home Depot fell more than 7% after the home improvement retailer missed quarterly revenue estimates and offered weak guidance. Walmart also came into the spotlight after the retail bellwether struck a cautious note in its economic outlook for 2023. On top of that, better-than-expected PMI data supported the case for further central bank policy tightening, driving Treasury yields higher while punishing tech and other growth stocks. Rising geopolitical tensions, particularly between the world's two superpowers, US and China, also discouraged investors from turning bullish.

Buys set
Sells set
gla

https://www.proactiveinvestors.co.uk/companies/news/1006779/lloyds-banking-tipped-by-analysts-for-jumbo-cash-return-announcements-1006779.html?viewSource=TwitterUK

Lloyds will be the final major UK bank to provide investors with its full year results tomorrow, following on from HSBC which reported a fall in profits today.

Lloyds Banking Group PLC (LSE:LLOY) could pay out cash worth more than 40% of their market caps in the coming few years, analysts at Barclays said, as it assessed the sustainability of the recent step-up in the UK banking sector's profitability from higher interest rates.

Lloyds was upgraded as the analysts noted that UK banks have benefited from margins widening back towards historical norms and are also benefiting from substantial excess liquidity.

Lloyds is seen as “relatively better placed” to cope with the combination of the Bank of England carrying out ‘quantitative tightening’ following its rate hiking cycle and the escalating competition for customer deposits raises the prospect of deposit outflows at big banks.

This is due, the Barclays analysts said, to Lloyds having “greater reliance on retail savings”.

Deposit outflows have now been factored in, which if the rest of the City was to agree, could be worth up to 6% of 2025 consensus forecast EPS at Lloyds.

Lloyds was upgraded to an ‘overweight’ rating from ‘equal weight’, with a new price target of 75p, up from 55p, versus today's price of 51.2p.

The analysts said: “We see a more enduring tailwind from rising rates than previously and RoTE less impacted by excess liquidity/deposit outflows, alongside falling provision risks given UK macro de-risking.”

The Barclays analysts envision sector-leading capital returns for Lloyds, including that the lender will return around 45% of its £36bn market cap by 2025.

Lloyds’ valuation “appeals” at circa seven times 2023 estimated EPS, which it is noted is a discount to European banks at nearer 8 times

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https://www.investing.com/economic-calendar/
All green ....gla

BHP reported a sharp drop in interim profit, mostly due to falling prices for iron ore and copper, as it put two Queensland coal mines up for sale. In its half year to December 31, the Australian mining company said revenue fell 16% to USD25.71 billion from USD30.53 billion a year before. The decline was mostly the result of lower realised prices for iron ore and copper, BHP said.

Attributable profit dropped 32% to USD6.46 billion from USD9.44 billion, while basic earnings per share came in at 127.5 cents, down sharply from 186.6 cents. Pretax profit fell 30% to USD10.18 billion from USD14.49 billion.

By Elizabeth Winter, Alliance News senior markets reporter

Comments and questions to newsroom@alliancenews.com

Bearandbul ...try posting about Lloyds instead of childish insults.
Perhaps you would like to share your thoughts about EPS and why? or are you just here to feed off other posters' research?

For what it's worth I'm not interested in politics/Brexit or the usual guff that's spouted on this BB about Brexit...however my post regarding NI protocol is definitely market-linked.

UK Prime Minister Rishi Sunak's efforts to break the impasse over Brexit's Northern Ireland protocol have been dealt a blow by Boris Johnson.

The former prime minister warned that dropping the Northern Ireland protocol bill – which would empower the UK to unilaterally scrap parts of the treaty – would be a "great mistake".

Johnson's first intervention on Brexit since departing No 10 comes as his successor-but-one has engaged in frantic diplomacy to secure a UK-EU agreement on fixing issues with the contentious post-Brexit trading arrangements.

After further talks with EU leaders on Saturday, Sunak stressed that a deal is "by no means done", amid speculation one could be unveiled early this week.

The government has indicated that a successful outcome would mean the protocol bill would no longer be required.

I'm going for:
2022................EPS 7p,.....Dividend 2.45p + BB/FD
2023 Forward EPS 7.15p, Dividend 2.75p + BB/FD
2024 Forward EPS 7.70P, Dividend 3.05p + BB/FD

gla

Please put me down for 11.00 pounds
Thanks .

Looking forward to more BUYBACKS ABOVE 70P :))) sells triggered, triggered. Capital preserved with the option of hold for 3.6p div & a special div, return of shareholders funds!

One can dream/love & light & all that stuff.

Some get excited at buybacks sub today's close in 2023...sigh!

DorsetLSE..........Totally agree, give me the dividend and I will add on down days with my dividend OR other!

Buybacks versus dividends and special dividends!!
PLEASE...dividends every time and I will decide if I want to add on down days WITH MY DIVIDENDS. (for the BOD)

YES, we all know buybacks increase EPS and the PE in most cases reverses, net result, there is no substantial increase in share price.
Markets want to see ORGANIC GROWTH & POTENTIAL and the markets are focused on Gregg's potential!
Reward shareholders and retain healthy profits to focus on Organic growth. (BOD)

gla

Thank you Boyo, I've no track record as a trader......that aside, the number of times I've regretted not booking a profit outweighs holding for a dividend.

I will buy back my trade if we retrace by 4 times the dividend or happy days ahead 2800-3000p.
ATB

Hovering over the sell button, eventually sold 1/3rd... 2580p
I'll bank the divs for the remaining shares and wait for Q1.

When markets are pushing infinity & beyond articles, time to book a profit!
gla

Real-time Estimate Cboe Europe - 03:08:12 2023-02-15 am EST
505.55 GBX -2.01%

02:33a Glencore to Return $7.1 Billion to Shareholders After Record 2022 Earnings
02:21a Mining Giant Glencore's Net Income Soars in FY22

Glencore to Return $7.1 Billion to Shareholders After Record 2022 Earnings
02/15/2023 | 02:33am EST

By Joe Hoppe

Glencore PLC said Wednesday that it will return $7.1 billion to shareholders after reporting record 2022 earnings on the back of significant growth in its marketing and energy divisions.

The Anglo-Swiss commodity mining and trading company declared a base distribution of $5.1 billion, or $0.40 a share, a top-up distribution of $0.5 billion or $0.04 a share, and a $1.5 billion share-buyback program.

Glencore reported record adjusted earnings before interest, taxes, depreciation and amortization of $34.06 billion for 2022, up from $21.32 billion in 2021 and slightly above a market consensus of $33.94 billion, taken from FactSet and based on 13 analysts' estimates.

Full-year net profit was $17.32 billion compared with $4.97 billion a year earlier, and a forecast of eight analysts from FactSet of $18.97 billion.

Adjusted earnings before interest and tax from the marketing business--Glencore's name for its trading arm--rose 73% to $6.4 billion, while energy adjusted EBIT rose to $5.2 billion, from $1.4 billion. The company attributed the significant energy rise to already tight post-pandemic energy markets jolted by significant dislocation, generating extreme volatility in oil, refining margins, freight, gas and coal prices.

"High inflation rates and associated tighter monetary conditions present some risk to the economic outlook in 2023. China's reopening, however, together with a continued global focus on energy security and decarbonization [and] electrification, mean that demand for many of our commodities is likely to remain healthy, while supply constraints persist and inventories remain relatively low," Chief Executive Gary Nagle said.

gla ...I've added a few more

BP is one of the world's leading oil groups. Net sales break down by activity as follows:

- refining and distribution (82.6%): At the end of 2021, the group had 18 refineries (including 3 in the United States) and a network of 18,900 service stations (including 7,800 in the United States);

- exploration and production of hydrocarbon (16.5%): oil (1,951,000 million barrels produced per day) and natural gas (279.5 million m3 produced per day);
- other (0.9%).

65.9% of net sales are abroad.

Shareholders
BP plc (GB0007980591)
Name Equities %
BlackRock Investment Management (UK) Ltd. 872,866,479 4.81%
The Vanguard Group, Inc. 627,557,228 3.46%
Norges Bank Investment Management 578,458,498 3.19%
BlackRock Fund Advisors 537,376,110 2.96%
BlackRock Advisors (UK) Ltd. 255,113,000 1.41%
Compagnia Investimenti e Sviluppo SpA 230,244,000 1.27%
SSgA Funds Management, Inc. 211,281,431 1.16%
State Street Global Advisors Ltd. 183,136,962 1.01%
Vanguard Global Advisers LLC 156,452,297 0.86%
Mondrian Investment Partners Ltd. 150,316,114 0.83%

Holdings
Name Equities % Valuation
ROSNEFT OIL COMPANY (ROSN) 2,092,900,097 19.7% 11,640,291,759 USD
AKER BP ASA (AKRBP) 100,303,000 15.9% 3,096,349,598 USD
CASTROL INDIA LIMITED (500870) 504,452,416 51.1% 750,917,777 USD
CHINA AVIATION OIL (SINGAPORE) CORPORATION LTD (G92) 173,476,942 20.0% 115,115,829 USD
BP CASTROL K.K. (5015) 14,895,900 64.8% 101,605,232 USD
CHINA RESOURCES CHEMICAL INNOVATIVE MATERIALS CO., LTD. 49,314,736 3.79% 71,364,834 USD
CHANNEL INFRASTRUCTURE NZ LIMITED (CHI) 31,572,640 8.47% 28,554,296 USD
Markets and indexes
- Main Market
- FTSE 100 / FTSE 350, FTSE All-Share, FTSE Eurotop 100, Stoxx Europe 50, STOXX Europe 600, Stoxx Global 200, Stoxx UK 50

Whats not to like :))
gla