Provisions and surplus cash22 May 2020 01:25
PPI provisions, Covid provisions,etc, etc, where do shareholders rank in all this? Obviously behind everyone else. Seems to me that the best way to get a dividend out of Lloyds is take out a loan and refuse to pay it back!
Telling me surplus cash belongs to the shareholders means nothing if there isn't any surplus. 1.4 billion set aside to take care of non share holders leaving 94 million for us. What and astounding quarter that was!
My view is that if 2019 a very profitable year was wiped out what will we see through 2020 a very unprofitable year so far?
Going into the pandemic we were told by Lloyds the bank could afford to pay the 2019 final with sufficient provision for Covid-19 and the they were compelled through external pressure not to pay the divi.
What i want to hear from Lloyds, isn't "surplus cash is yours" i want to hear "we so far owe you the 2019 final divi and you'll receive that on top of additional divis declared this year. I'm not saying give me it now but i am saying, as with PPI and Covid-19 make a provision for dividends to be paid at a future date and tell us how much is being added to that pot.
Happy to wait a bit and won't even charge you interest. As a small ltd company owner the cancellation of around £10k dividend put a big dent in my finances and i am suffering at the expense of my shares earning others money. So far grossly unfair to be honest so some kind of assurances isn't asking too much!