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Meconopsis - The dates are published on the L&G investor relations page so they are correct, it's the amount which is going to be around 6p that will be clarified later. That is unless they have found some awful skeletons in the cupboard during the strategic review or conversely some hidden dosh tucked away somewhere & forgotten (equality rules).
Snake - As a prospective buyer here why do you say this is going to 250 & beyond this year? I hope that you are correct by the way & I sincerely hope that I make my mind up to buy before it does.
The highest it has been in recent history is 241 I think.
BeReyt - Has that 5.99p interim dividend been officially declared or are we waiting for the half year results on 7 August to confirm? 5.99p would roughly be last years interim of 5.71p + 5% so my guess is that is the minimum it will be.
Anyway some dates for the diary are - AGM on 23 May & the "Strategic Review / Capital Markets" presentation on 12 June.
FYI the interim dividend goes XD on 22 Aug 2024 & is paid on 27 Sept 2024.
As a reminder & for the information of those new to this share I post what the CEO António Simões said in March after he had been in the hot seat for a couple of months.
“Everything I have seen since joining the business in January has confirmed what attracted me to Legal & General. We have an authentic sense of purpose and stand out for our market-leading businesses, performance track record and strong balance sheet, delivered by talented colleagues.
Our 2023 performance reflects these strengths. We are on course to achieve our five-year targets, and demonstrated resilience in challenging markets to achieve record new business volumes in pension risk transfer, UK annuities and US protection, increasing our store of future profit. Our international assets under management and alternative assets portfolio continue to grow, as does our position in the UK defined contribution pensions market.
We must be as ambitious for Legal & General’s future as we are proud of our history. This is the right moment to take a fresh perspective, build on our track record and set out a vision for profitable and sustainable growth. I look forward to outlining our strategy and plans at our Capital Markets Event on 12 June.”
So there we have it 12 June should be an interesting day, I personally like the bit about being ambitious.
In addition, confidence in the dividend paying capacity is underpinned by the Group’s strong earnings and strong balance sheet, which has Solvency II regulatory capital of £16.6bn: a surplus of £9.2bn in excess of a capital requirement of £7.4bn.
Yes SIDI & Nervous a profit is a profit. I purchased 1,004 of these babies this morning at £5.13 & my folio is now showing at close of play today a healthy £42.01 profit after expenses. I won't be selling any time soon as I'm here for the + 10% dividend. God I love the stock market!! Good luck all.
99.9% of posters here agree with you daniel, the Muppet that is Gutter is indeed a pathetic fool.
Definition of a Muppet - An incompetent or ineffectual person, an idiot, someone inept, a person prone to mishaps through stupidity. I'd say this was spot on, ha!
At the risk of being accused of a "love in" may I wholeheartedly welcome you to the LGEN chat board Strictly. Like yourself I have LGEN in the folio but MNG & PHNX are just on my radar at this time, I'd like a little drop before I buy & it's a while until any reach ex-divi territory. Perhaps an insurance blog SB? I for one would be very interested in your take here. Good luck to all & happy bank holiday from the beautiful Quantock Hills where the sun is shining, at last!
I have never voted on the Friday future guess/ prophesy thing you guys & girls like but as VOD are going UP this week sure as eggs are eggs I will say 86.21p please.
Now there's bank holiday weekend optimism for you eh dan / Rob?
What a memory Baz, I dropped a proverbial with BP in selling far too soon but as the LSE stock picking god Strictly often says “We can’t all drink with Captain Hindsight all the time”. Hoping everyone here stays prosperous.
Baz - To me LGEN is a quality share as my average is under £2.00 & as for the dividend being safe the company kept on paying it throughout the recent pandemic despite pressure from government. Sentiment towards this sector is weak I respectfully suggest but investing is a long game, 5 year minimum & all that. I understand that no dividend is ever safe & that the new boss may have other thoughts about this but as for a quality FTSE company currently increasing its payout 5% yearly it'll do for me. At the last count LGEN was on track to meet its target for the period up to 2024 with capital generation of £8 to £9bn so my guess is the divi is safe. The solvency II ratio which is above 200% should also offer investors a great deal of confidence as well. That's why I think this is a quality company & I hope that's answered your question.
Phil - Why automatically set to re-invest when that won't happen for weeks? FWIW I just keep an eye on the price just as the dividend gets paid & then take the re-invest decision one way or the other at that time. HL who I used to be with didn't re-invest dividends until the 11th of the month following payment but AJBell do it the next day (I think).
As for will this reach £2.20 anytime soon, I think not unless the results of the strategic review is pants. For those that aren't aware L&G will announce this at the upcoming capital markets event on 12 June. If this is good & if interest rates are cut, which may also happen in June, then the SP here & elsewhere will rise. Only my opinion of course but I wouldn't want to be out of quality shares such as this over the summer. Good luck all.
DonB "For the first time in a while.... should bounce now"
Take some advice from a long term investor here & don't bet your house on it, VOD will finish down today ... because it's a Wednesday!
It's good to read what each of us does & hopes for, each to their own & all that.
As for me whilst inflation is very important I'm just happy to hold good companies such as this forever, collect the dividends to supplement pensions (I haven't had to touch any dividends yet) & bequeath the shares to my loved ones hopefully some years down the line. If I were a younger man I expect that my philosophy would be very different.
I look at it like this, my 8 grand buy of LGEN some time ago brings me in about £725 per year in dividends. If I were to put this into a savings account paying 4.5% I would get £360 in interest. The maths seem very straightforward to me & before anyone questions this I'm talking here about ISA's so no tax to pay.
My plan was to put my £200K ISA in a few different income stocks paying an average 7% interest, bringing in about £14K per year & so far I'm doing better than this. I sleep very well knowing that I am well diversified & invested in quality stocks. Good luck all.
Come on dan, investing in the stock market & not understanding what the bottom line is. Fleecy was obviously talking about it & the pathway to growing / increasing it in respect of VOD & BT. Just so you now understand here it is - The bottom line refers to a company's earnings, profit, net income, & earnings per share (EPS). The reference to the bottom line describes the relative location of the net income figure on a company's income statement. So, if the BL grows so does that company.
I'd go careful putting too much into BT Dave, as I'm sure you know they have a significant pension deficit which they pay serious dosh into, currently just over £1.4 bn annually. Add to that the lease pile, which cost £246 mn to service annually and the drags on cash are hefty, it doesn't leave too much for dividends etc. They have done well getting the pension deficit down from £7.98 bn in 2020 to just under £4 bn now but there's still quite some way to go. Good luck though & my own view is that VOD has more chance of a recovery in the short term than BT.
LGEN is without doubt one of the best businesses out there, the dividend is well covered, profits are increasing & once the impending review is completed / published any lingering doubts will be cast aside by the market. I'm not saying that the SP will rise to any great heights because of any this but it is as close to a complete divi share as you can get.
If you buy today at the current price you get 8.6% annually as a dividend, try getting that in the bank. The dividend in my opinion will not be cut, it may stay as it is for a little while but it will increase in time. Buy, forget about it, re-invest the dividends & in 7 to 8 years they will have cost you nothing. Take a leaf out of Mr Buffett's book, he buys good companies & holds, does this all the time & he's done okay.
Only joshing LTI, good luck mate, no offence intended.
Rob - I never really intended to sell any here as I'm invested in single company shares solely for dividends should I ever need them. I'm happy to collect my £515 in June & share price fluctuations don't really bother me. My average here is below £1.90 so I have some breathing space. Good luck all those invested here & elsewhere.