The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
"Investors in Britain's biggest high street bank are in line for a big windfall from a deal that will see £1.16bn owed to it by the Barclay family repaid in full, Sky News learns."
Not followed this story or any Lloyds comments on said same. Have they indicated how they will treat this influx of cash?
yes Final div likely to be circa 20p but not comparable to last years' 14.7 as there has been a number of share re org and less shares in circ so even they make same absolute amount of net cash for div distribution the pence per share will go up. Therefore if forecasts of better profits are correct then the 14.7 p of last year could well be 20 p.
Blanc has not done a great deal at all. Most of the sales of overseas entities were agreed or well advanced before she arrived. Same with return to core activity strategy. Also the return of cash to shareholders decision albeit the method of achieving this was decided during her tenure .
You should complain with a threat to report them top FCA . They will respond saying that their T&C's is 5 days but this NOT market practice and NOT norm. It is there as a catch all for EXCEPTIONAL circumstance and not every single dividend payment. Div cash should be available to investors before opening on pay date . HL and others are prompt . Normally HL post very early after opening or within an hour but Barclays are appalling. See my earlier posts re Rec date and pay date . No excuse in this tech age .
Exactly the same with me . I am an ex Sen Mkt pro of many years and was extremely lenient and sympathetic to a point but they simply could not do basics right or anywhere near a timely fashion. The Glasgow entity was very good years ago and many the of people there are still very good, but it seems that Barclays have decentralized / outsourced many of the operational aspects hence the decline in efficiency. I was reluctant to leave as I had numerous family accounts with them but had to move as it was costing me dearly in cash and patience.
To manaully cap on HL platform
Select the account and then CAsh tab.. Then select line cash income and loyalty bonus , then next screen far right lower half , Loyalty Bonus and settings , then tfr to Cap account now. Cash will then be available to you
YEs Barclays are tardy at best , plain awful at worst. They tend to hide behind the regulatory 5 days grace period to post divis when in reality they should be posted and available before opening on the pay date - that is partly why we have rec date so far in advance of pay date thus allowing ( especially in old days of residual form stock ) for the broker to reconcile back to the registrar records. Now, with tech this should be super easy so no excuse . I moved all my accounts and family accounts to HL who are much much better but still do not make div funds available pre open. In their defense today they have Av and Lloyds divs and the Av b share.
yes agree..
As Casual Investor quite rightly says current MarCap less cash returned = implied MarCap of £16bn to £12.37 to give an SP of £4.52 odd with the reduced 2.8 bn shares in circulation. But it would not take an awful lot of the £3.7 bn to return to raise the SP post Cap re org plus obviously any large tranches of shares bought (say funds ) post Cap Re Org will have a more positive impact on SP as there are less shares around. However, don't forget there will be natural sellers as any B share cash is re invested over time so this anything but linear and predictable by simple maths alone.