Member Info for Asperger1

Wonder if there could be a mechanism where those on the register at the 2019 and 2020 ex divi dates receive a pledge/credit note/bond - so what is owed will be repaid at some later date ???

Feel free to copy (or draft your own) and send to your MP & Kevin Hollinrake - ensure you inc your full name & address

Dear 'Your MP' / Kevin Hollinrake,
This email is to express my horror at the governments decision to instruct banks (specifically Lloyds with it's high number of Private Investors) to cancel 2019 & 2020 dividends, not retained to be repaid later, but lost forever,

Encouraged by previous Conservative Government policies many private investors depend on dividend income from UK companies, I'm not talking about the mega rich or millionaires, I'm talking about individuals who have worked hard all their life, never been a burden on the state but managed put a little money aside,

From my position the action taken by this government is a kick in the teeth and to all others those who thought they were doing 'the right thing' i.e. to make private provisions for their later life,

In a world were many others are being supported via loans, 80% furlough etc it's unbelievable that instead of making funds available to banks retired people who have selected to invest in the banking sector are being 'hung out to dry' by the current Conservative Government,

Again specifically in Lloyds case I'm not buying the 'return the favour' argument regards bail out, Lloyds already repaid the favour by - saving HBOS, the resulting Ppi and reading branch redress, repaid bailout cash + interest + dividends, and has been playing a vital part in rebuilding UK's economy since 2008.

Yours Sincerely

You can find your local MP from here.
https://www.parliament.uk/get-involved/contact-your-mp/#jump-link-0

Kevin Hollinrake email - kevin.hollinrake.mp@parliament.uk

My final draft has been sent -
Feel free to copy (or draft your own) and send to your MP

Dear 'Your MP' / Kevin Hollinrake,
This email is to express my horror at the governments decision to instruct banks (specifically Lloyds with it's high number of Private Investors) to cancel 2019 & 2020 dividends, not retained to be repaid later, but lost forever,

Encouraged by previous Conservative Government policies many private investors depend on dividend income from UK companies, I'm not talking about the mega rich or millionaires, I'm talking about individuals who have worked hard all their life, never been a burden on the state but managed put a little money aside,

From my position the action taken by this government is a kick in the teeth and to all others those who thought they were doing 'the right thing' i.e. to make private provisions for their later life,

In a world were many others are being supported via loans, 80% furlough etc it's unbelievable that instead of making funds available to banks retired people who have selected to invest in the banking sector are being 'hung out to dry' by the current Conservative Government,

Again specifically in Lloyds case I'm not buying the 'return the favour' argument regards bail out, Lloyds already repaid the favour by - saving HBOS, the resulting Ppi and reading branch redress, repaid bailout cash + interest + dividends, and has been playing a vital part in rebuilding UK's economy since 2008.

Yours Sincerely

You can find your local MP from here.
https://www.parliament.uk/get-involved/contact-your-mp/#jump-link-0

Kevin Hollinrake email - kevin.hollinrake.mp@parliament.uk

ItsaNighmare and others
What do you think of the following -
Dear Kevin Hollinrake,
This email is to express my disgust at the governments decision to instruct banks to cancel 2019 & 2020 dividends, specifically Lloyds with it's high number of Private Investors,
Encouraged by previous Conservative Government policies many private investors depend on dividend income from UK companies, I'm not talking about the mega rich or millionaires, I'm talking about individuals who have worked hard all their life, never been a burden on the state but managed put a little money aside,
The action taken by this government is a kick in the teeth to all those who thought they were doing 'the right thing' i.e. to make private provisions for their later life,
In a world were many workers are being supported via 80% wages it's unbelievable that retired people who have selected to invest in the banking sector are being 'hung out to dry' by the current Conservative Government,
And again specifically in Lloyds case I'm not buying the 'return the favour' argument re bail out, Lloyds already repaid the favour by - saving HBOS, the resulting Ppi and reading branch redress, repaid bailout cash + interest + dividends, and has been playing a vital part in rebuilding UK's economy since 2008

Yours Sincerely

I understand that shareholders 2019 & 2020 divi's are being retained to 'shore up' Lloy's balance sheet,and in turn to help the UK economy - In return can we have some kind of pledge that those retained divi's will be returned to shareholders ???

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 !!!

BANK FOR SALE - BANK FOR SALE - BANK FOR SALE

Ain't joking !!!

Thanks ItsaNightmare -
It's clear from the letter AHO didn't have a choice !!!

Prudential Regulation Authority, 20 Moorgate London, EC2R 6DA
31 March 2020
Dear Antonio,
Thank you for our discussions of recent days in response to the exceptional circumstances caused by Covid-19. The PRA welcomes the consideration given by you and your firm to suspending dividends and buybacks on ordinary shares until the end of 2020. Should your board take such a decision the PRA would publicly welcome it.

I am also writing to ask you to cancel payments ofany outstanding 2019 dividends.

The PRA also expects banks not to pay any cash bonuses to senior staff, including all material risk takers, and is confident that bank boards are already considering and will take any appropriate further actions with regard to the accrual, payment and vesting of variable remuneration over coming months.

Please confirm to the PRA by 20:00 today whether or not your group is prepared to agree to this request. The PRA stands ready to consider use of our supervisory powers should your group not agree to take such action.We would expect you to make a statement by 21:00 and the PRA would issue its own statement at that time. A draft text of a PRA statement and possible form of words for your statement, depending on your decisions on these matters, The PRA intends to publish its letters to firms alongside any statement it issues.
Yours sincerely
Sam Woods
Deputy Governor and CEO, Prudential Regulation Authority

You and others warned me Dvharrison - and I couldn't believe shareholders would get screwed over like this - RNS on the 1st April - couldn't make it up!!!

Will need to do some serious adjustments to my finances/spending
At least I have my health (at the moment)

Really not happy !!!

Darth - are you saying information is never manipulated to benefit certain parties - wow, you live and learn lol

We will see Mick, you get gloating rights 'only' if the divi gets pulled

Sorry Darth - I had no one particular in mind - I just challenge the content of some posts

Did you take that one serious Mick? - Ah bless

Mick -
All these scam stories are full of 'set to', 'may', 'might', 'could' - I see those words as 'might not' - we'll see if I'm wrong soon enough - wouldn't be the 1st time lol

Faulkes - there must be a reason some try to fill the board with de-ramping doom & gloom, my job is to provide a little balance :-)

Mick - my article is from the day UK finance had their meeting - there has been no further announcement today - only more Coronavirus scam scare stories with no foundation - action speak louder than words - see what tomorrow and Barc pay day brings

Beware of Coronavirus scammers trying to scare you with cancelled divi stories

"finance providers are likely to want to discuss their dividend policy with their boards, shareholders and supervisors” UK Finance said.

Best everyone else butt out !!!

https://www.reuters.com/article/us-health-coronavirus-banks-dividends/uk-banks-could-review-2020-dividends-due-to-pandemic-trade-body-idUSKBN21H1QA?il=0

If the divi's go ahead as planned - last yrs final 2.25p + 3x interims 0.674 = 4.272p on a SP ~33p during this year
Shhh, don't tell the Roo lol