Member Info for fleccy

Profit after tax £755 Million

"Interim dividend of 2.40 pence per share (pps) up from 2.31pps in H1 FY24 in line with our policy of paying 30% of prior year's full year dividend pps. FY24 final dividend paid in September was fully covered by normalised free cash flow"

"they may be doing so fleeing political persecution, threat to life"

Yeah France is a dangerous place. Being beaten with a Baguette can be brutal, and don't get me started on Frogs legs.

Https://www.youtube.com/watch?v=jWcaAmTO2TE&t=13s

Savage you're working extremely hard to worry potential and current investors in BT. In reality there's only one thing that might knock the price in the short term, that being the Patourel vs BT case. Most of the narrative's the market have used to bash BT are falling away, if the CAT decides to rule in BT's favour the share price will soar.

LTI you're the one who initially brought up buybacks, I just posted some charts and made no comment on buybacks or block listings. You get wound up very easily, you should take a chill pill next month when I post the November scores on the door. I'll be extending the date range to accommodate 2025 once we reach December 🤣

🙄 LTI, I'm not sure if I should feel sorry for you. You need to take off your pinhole glasses and look at the wider picture. Everything counts, not just buybacks.

LTI my previous posts are irrelevant, since anyone reading the post at the beginning of this thread would only see evidence of a reducing share count and no mention of dividends. As far as shares in issue are concerned, they show a true picture of the effect of share buybacks and block listings combined. Some viewers may appreciate charts showing the periodic effect of the buyback programmes. The only one who raised dividends as a topic, in this thread, is you. Don't you have anything better to do than continually create arguments out of nothing?

You don't see me posting every time you post your regular spread bet updates do you? Which is irrelevant and pointless.

"RE: SB30 Oct 2024 08:09

June triggered at 55.95

June order in at 54.95"

🥱

I don't see anything in my post that's anti buyback, it's simply a chart showing the monthly decrease in total voting rights, due to buybacks, and a chart showing the monthly variation in total voting rights. I didn't express an opinion either way in my post.

Https://docs.google.com/spreadsheets/d/e/2PACX-1vS0oSavIsBjHgD7k6NMyk7Z591Cm2IrevvLI-Jq95gOmESrOI0Vi_NhA8LIO9rMz90Y5zCOCoFuEItG/pubchart?oid=1812824850&format=interactive

https://docs.google.com/spreadsheets/d/e/2PACX-1vS0oSavIsBjHgD7k6NMyk7Z591Cm2IrevvLI-Jq95gOmESrOI0Vi_NhA8LIO9rMz90Y5zCOCoFuEItG/pubchart?oid=1451011517&format=interactive

"Correct me if you feel I am wrong with my take on this Butmac - I did not see anything in this budget which tangibly supports either fibre rollout or BT specifically"

"Investing over £500 million in 2025-26 to deliver Project Gigabit and Shared

Rural Network to drive the rollout of digital infrastructure to underserved parts

of the UK, including delivering full gigabit broadband coverage by 2030"

https://assets.publishing.service.gov.uk/media/672232d010b0d582ee8c4905/Autumn_Budget_2024__web_accessible_.pdf

Savage you're turning the BT chat page into something similar to the Lloyds chat page, where it's become a political forum. What has the Rwanda scheme got to do with BT? Nothing I can think of.

Savage you'll just have to accept that the Labour "electoral landslide" was based on a lower share of the vote than Corbyn previously achieved, their national vote share was very poor. I don't expect this Labour Government will win the next election, if the headlines in reference to their upcoming policies around taxation and Union rights are to be believed.

I actually do feel hard done by, Gordon Brown severely damaged my DB pension with his 1997 stealth raid. The fact that we've saved hard and invested savings, as they've become available, doesn't change the fact it was a Labour chancellor who nobbled private sector DB pensions; As I've mentioned previously my DB pension went through various changes following Brown's raid, with the last but one change involving salary sacrifice before the DB scheme was finally frozen six years before I retired. I missed out on wage increases over the six years that would have contributed to my Final Salary pension, and indexation has limited my annual pay increases to a maximum of 4.235% when inflation has been much higher. For the last six years my DB pension was frozen and I contributed to a DC pension scheme, which I cashed in as it wasn't worth keeping. You'd be seething too if a politician severely damaged your finances, saying that I'm doing ok is irrelevant.

https://www.telegraph.co.uk/money/pensions/gordon-brown-ruined-retirement-generation/

Massive pay rises for train drivers, Doctors and others will stoke inflation. Pensioners who's pension increases are capped at less than 5% have no ability to strike and will likely see their purchasing power eroded by Government encouraged inflationary policies. Savage you keep banging on that the BOE should cut rates and stating that they're behind the curve, but service level inflation is running at nearly 5%, and the more Labour policies stoke inflation the less likely interest rates will come down.

Abject there are two types of tax, Capital Gains and Income tax. A dividend isn't a capital gain since it's classified as income and therefore falls under the Umbrella of Income tax and is considered within the personal allowance. To reclassify dividends as a stand alone entity outside of the Income tax bracket would be impossible and have far reaching consequences, the Government would pull countless investors into a new tax regime and they'd likely be sued for the carnage they'd reap. I'd put money on it that they wouldn't dare to make such a change.

Savage comparing Civil servant's to private sector CEO's is ridiculous, a CEO makes a mess and he's out on his ear, a civil servant makes a mess and there are no repercussion's. There are many well paid jobs in the Public sector, particularly within administration roles. Prior to us marrying, my wife worked for the NHS in superannuation and commented on how many well paid admin roles there were, paid far in excess of comparable private sector administrative roles. Many nurses work in the private sector on their day's off, I personally know of one casualty nurse who works part time for plastic surgery clinic's; Medical Consultants are part time and raking it in on the side, within the private sector, my private sector contract forbade me from working outside of my main employment. I know of a police officer who was promoted just before retirement, enhancing his final salary pension, I suspect it's common practice to do such things. Don't get me wrong the Conservatives have allowed such things to go on, but it makes me seethe when Politicians perform stealth attacks on private sector pensions, while looking after their public sector voting base. I would go as far as to say that I despise Labour, whereas I only dislike the Tories.

In the meantime Savage, politicians, civil service workers, police and other public sector workers still enjoy gold plated defined benefit pensions. It's also a myth that Public sector workers earn less than private sector workers, many private sector workers are on minimum wage and if you were to compare many like for like jobs, you'd probably find income's are similar. Some Top civil servants are on close to £300,000 a year, not bad if you can get it.

I was one of the lucky ones who was in a DB pension scheme, but my pension is probably between £5,000 and £10,000 a year lower than it would have been, with annual increases capped at 4.235% even if inflation gets as high as 10%, I blame Gordon Brown for that.

Savage you'd be hard pressed to find any other parties politician's being more inept than former Labour chancellors. Gordon Brown scrapped DB pension tax relief on dividends and initiated a slow motion car crash, that not only degraded the pensions of the current retired members of DB pension's, it also deprived current members of less generous DC pension schemes. The death of private sector DB pension schemes has also probably contributed to the UK's floundering stock market. Labour don't understand the concept of unintended consequences. The reason Labour don't like pensioners, is probably because pensioners can see the damage previous Labour Governments have caused and wont vote for them under any circumstance. Labour talk about being the party of the working man, they should probably restate that as the party of the Public Sector working man.

How can they make dividends ineligible for the £12,570 personal tax allowance. Dividends are classed as income and everyone is entitled to earn up to the personal allowance threshold. They may get rid of the £500 dividend allowance though.

"In theory the banks might be able to claw money back from the car dealers but probably not realistic in practice."

They'll claw it back on future loans, because of things like this everyone will have to pay more for finance. OFCOM's interference with mid contract price rises is a good example of what I'm talking about; Previously people on low priced SIM only contracts would have been hit with a mid contract inflation based rise, now Communication providers are all writing larger than inflation price rises into their contracts.

Some may get a payout and be smiling on the back of this, but it'll be short lived when they, and everyone else, have to pay much higher interest rates on loans. As far as £2 Billion in compensation is concerned, it's only equivalent to a year of Lloyds share buyback's so shouldn't be a big deal once the dust settles.