The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
MV,
Exactly...for step 1.
Charlie's next claim was a further 38,000 in 5 years to meet the goal of 50,000 by 2030.
- 3 years in and only 2,000 properties
- 1 1/2 years remaining to get the other 8,000 properties to meet the first target.
This was Charlie's big plan for LBG....he has kept very quiet about Citra since he launched it.
https://www.landlordzone.co.uk/news/lloyds-banks-plans-to-build-thousands-of-rental-homes-prove-over-optimistic
Jed,
These latest tory stealth taxes (on dividends and CGT) do complicate things. I'm in the process of selling off holdings in funds and shares accounts rather than see the fruits (dividends) of my hard work going into the trough.
Kioto: You left out part of this announcement:
'Delivery on our shareholder return commitment set out in the strategic review, with ~$568m paid to shareholders in 2023 and a further planned dividend payment of $50m in Q2 2024, accompanied by a share consolidation, subject to shareholder approval'
Another share consolidation...
History suggests you would be better off unloading your shares before the ex-dividend date and buying them back after the excessive fall in share price; ie., the sp fall is greater than the dividend, and by quite a margin the last time. You won't lose as many shares that way (and can make more money with the eventual lift in share price back to where it should have been, after some months of recovery, if history repeats). It's troubling that CNE won't give shareholders a dividend without shafting them via a share consolidation at the same time.
Lti: ‘How many more times? - shareholders prefer and voted for buybacks - accept it - far better option for longer term shareholders.’
Another often repeated load of bs from longtermidiot, suggesting that the majority of shareholders voted for buybacks.
It was shareholder votes, not the majority of shareholders. Lti should know that by now.
Lloyds do not release the number of shareholders that vote for or against agm resolutions, just the number of votes. It is likely that fewer resolutions would pass if each shareholder had just one vote, which would be a more democratic approach and would likely lead to better governance and greater accountability.
GFC = Global Financial Crisis
'After the GFC, it was thought that the remuneration of bank executives was partly responsible for the leveraged position of banks. This is because many bank executives were paid variable remuneration in the form of annual cash bonuses or other types of remuneration like share options which were typically awarded every three years[8]. This was a short period of time to base executive performance given that banks manage long-term assets like mortgages. Further, both types of variable remuneration were dependant on executives maximising key metrics like earnings per share (EPS) or total shareholder return (TSR)[9]. To get the most variable remuneration possible, executives therefore leveraged their banks to raise EPS, TSR or other key metrics.'
Share buybacks = fewer shares
Fewer shares raises EPS even if earnings remain the same.
Total shareholder returns include buybacks
So the bod increases their bonus on both eps and shareholder returns by throwing shareholder monies at buybacks.
Meanwhile, shareholders are getting shafted by miniscule dividends.
Taverham, since Lloyds is the most commonly held stock by the UK public, shareholders may well be better off with the beneficial impact of what Labour does with windfall taxes on Lloyds than any benefit they will see to their finances from the pitiful dividends being tossed like crumbs by the tory BOD. The bonuses for those at the BOD trough will be guaranteed through this additional buyback but nothing for 'ordinary' shareholders. 100% of nothing is still nothing, you have to laugh at the 15% increase boast in the RNS.
When is LBD getting a CEO? When they needed leadership, they got Nunne!
Come on Labour, windfall tax these p*icks. I'm not even a Labour supporter, but something has to change. There is no excuse for not including a special dividend at this time. More shareholder cash returns will just disappear (Telegraph), like with ppi and the cancelled dividend. Try contacting Lloyds and informing them that you can't make a payment on your mortgage loan, but the bank has just announced another £2bn in buybacks and see if that covers it.
I suggest Longtime, that you get clarification from Lloyds before you make up more fantasy comments.
'Monies from profits that had been paid out on PPI for a number of years, have since those payments finished, been redirected back to shareholders.' Total fantasy with no basis in fact. Why do you bother making this stuff up?
Wenglish, apparently there was no surplus from the money set aside for PPI despite the £billions extra they had near the end, according to Lloyds. It seems to have just vanished...
Seems to me to be a scrambling RNS...if they had planned to delay the update, they would have communicated a new date when it was going to be delivered. This RNS suggests to me that something landed on their desk yesterday that they weren't expecting and that is going to take their focus for the next few months, at least.
A lack of a Holdings RNS after yesterday, if it is not just delayed, is a bit worrying with this RNS today. Makes me wonder if NewMed and GS are/were linked and lurking but perhaps Egypt now isn't a 'friend' of NewMed, or at least relations have cooled down pending the outcome in Gaza and in Egypt. Whatever, time will tell. Might be nothing, lol.
It will be interesting to hear the real factors, not just the 'we didn't realise we had to do a report - it caught us by surprise' bogus one, lol. Sometime early in 2024 too, when is that, before the end of June? Was expecting to see a Holdings RNS from someone yesterday or first thing this morning. Feels like some big news is imminent.
Never said that.
Try reading it again.
Put another way, the goal was to have the shares after consolidation be at the same price as before consolidation.
If the closing price is £1.80 per share, that would require a dividend of 60.0p
if the closing price is £1.70 per share, that would require a dividend of 56.7p
if the closing price is £1.68 per share, that would require the dividend of 56.0p
At a dividend of 56.0p, the higher the closing price is above £1.68 per share, the greater the immediate loss with consolidation.
Brix, it was 99% of shareholder votes in favour of buybacks, not 99% of shareholders.
The % of shareholders that voted against it, or would have bothered to vote against it had they thought it would make any difference would have been interesting figures. One vote per shareholder on buybacks vs dividends would be more appropriate.
Doing Buybacks to benefit shareholders is the big lie...to benefit the BOD and a tiny percentage of shareholders is how they should be presented.
...from the Liar's Banking Group. More shareholder money pished into the ocean in pointless buybacks. Wondering where the money will disappear from this year. Excess PPI money that was to be returned to shareholders. 70% of profit promise that was to be given to shareholders as dividends. Final dividend that was declared, then cancelled but was to be returned to shareholders. One lie after another. This bank has no shame.
The same thing they did with the excess PPI money
Westy, Matty, Chique -about adblock - caution, you might want to watch this
www.youtube.com/watch?v=m6S-vjU6E1s
silly Gateboy
'It increased the share price by about 2.2p which is over 5% at the current price. So how is that not doing anything for shareholders ?'
What a fool to believe that!
67sam...cool? Really? One could say we lost 2.81p in dividends that could have been paid out last May, instead of buying back shares with that amount of money.
I remember AHO's well publicised declaration that LBG would return 70% of profits to shareholders in the way of Dividends, which encouraged PI's to invest - like an 'election' promise as it has turned out.