Member Info for jameslastfan1965

Was thinking same - where to go next, but with a q3 completion we have time to think. Big income hole to fill.

Doing exactly the same as you. Keeping earned, interest and pension (SIPP in drawdown) income below £50270 and heavy divi earners in wife and my ISAs gives excess tax free income. Works for me too!

I’d rather they just announced it on Friday, no forward notice period - I took some profit today only because I didn’t want to sit there Friday feeling like I had been done.Feel a bit like it now because although they might not want to influence markets with the decision they are doing exactly that now and will be for the rest of the week. Still have a holding so have skin in the game - the time and day influenced me on the basis any profit is a good profit. Let’s see what happens next.

GLA.

…as SC have already ‘advertised’ next Tuesday’s verdicts ( unusually not Wed), could this mean they are leaving Wednesday for a surprise out the blue verdict for us?

I never really bought the idea of ‘advertising’ the high profile case as it will lead to market frenzy ahead of the ‘result’. Best to just drop it in.

Just a thought, I have no idea, same as everyone else.

This coming Thursday (13th Feb)

Yes paid Friday (with Barclays Stockbrokers)

We sold down Mrs Barclays holding ahead of the tax year end and took a full capital gain within the old allowance. Having held so long and had many false dawns it was always going to climb further but we did also take that opportunity to diversify those proceeds, with a retained Barclays holding in my name at a reasonable figure still both in the ISA and SIPP.

Don’t feel have missed out - it could easily have plummeted from the heady heights of the then £1.90 back to £1.30 so done with best intentions and did realise a gain at the larger allowance which allowed us to reinvest within an ISA. Now 100% tax wrap efficient whereas the Barclays was outside before.

Looking forward to good H1 results for the market to then give it a kicking downwards! Fingers crossed that doesn’t happen but if you have been here a while, well we know….

Divi restricted by banking covenants to annual £10m which has been met for 2nd year running. Banking arrangements expire mid 2025 and with reduced borrowing would hope the max £10m could be increased or even waived. As you say solid results.

Waiting on Barclays too for both L&G and Glencore - thought I would given them a call ( knew what the answer would be but registered the delay) and sure enough inside the 10 day ‘ contractual’ period to process and nothing they can do. Barclays say they haven’t received cleared funds and when they do they will pay out. Luckily I have found it has improved - this is the first delay for us since last Glencore but is frustrating!

0830 uk ( 0930 cet)

Barclays helpfully give a consensus summary so we can see the hits and misses. Top line miss on income but otherwise pretty solid. Clearly the market will hate it but who knows…?

https://home.barclays/content/dam/home-barclays/documents/investor-relations/consensus/20230720-Barclays-PLC-Consensus.pdf

Venkat on CNBC in UK 0830.

LTH ( worked there for many years, so rational investment buys and sells are out the window, just years of disappointment in the share performance.)

“I would have thought at these levels this is a time to buy rather than sell.’’

I did on Wednesday , averaged down. Right or wrong? Who knows?

Biggest holding other than Barclays ( long term holders) across wife’s and my ISAs but we are well diversified, so add we did - as long as divis hold up we are LTH so ups and downs aren’t an issue.

DiamondhandedPI - agreed it is a bit bizarre. So I made a complaint, in itself not straight forward but I had a long call with a Smart Investor manager who gave me the reasons.

My complaint was around the loss of dividend opportunity to reinvest elsewhere on the Friday ( a market down day) when other brokers had passed on the dividend to their customers - as was shown here. Smart Investor finally credited mine on the Wednesday following.

There is an explanation and take from it what you will - I have asked they put in writing but their complaint system is slower than their Barclays Divi delivery!

Their regulator classifies Barclays Smart Investor ( as part of Barclays Bank) as, not surprisingly a Bank. As a deposit holding bank the regulator further restricts Smart Investor to stop it distributing from its own reserves any company dividend until a bulk cleared dividend payment has been received by them. Unlike a broker which does not have those restrictions - so for example ‘ xyz Broker Ltd’ as a standalone broker can use its own resources to credit a dividend - they do that - they take a view that a dividend payment will be made by the company to them on a set day.

This puts, as explained by the complaint manager, Barclays Stockbrokers at a disadvantage to other brokers in that until cleared funds are received they are not allowed to pay those funds to individual entitled shareholders.

In my mind that then raises another question - how do these companies pay brokers the bulk dividend prior to distribution? From the explanation I received ( and unlike other companies divis I receive more timely payments from Smart Investor for) Barclays as a company are settling by a 3 day payment method so funds aren’t available until the Tuesday/ Wednesday following following due date ( Friday). That is pretty poor if this is true - Smart Investor are clear - the delay is in the method of them receiving the payment ( and the regulator restricting them making a payment in advance of clearance).

He did say this is something they are lobbying the regulator on, to allow them to settle dividends on the due day, and they receive many complaints about processing delays - but a better lobby would be to Barclays as a company to settle the dividend by FP at midnight + 1 minute on due date giving them cleared funds! I do find it hard to believe that all companies ( but especially Barclays/ FTSE market leaders) don’t, but I suppose an extra 3 day’s interest for some is worth keeping.

Anyway it sort of explains Smart Investor delays, but from a phone call not the confirmation letter ( which is now 2 weeks delayed!).

The manager was very professional but explained the complaint will not be upheld because they are within their Ts and Cs. My comments will be added to many others, so we may see some change in the future.

I like the integration of their system with online banking etc and happy with their trading system, but not used other

Barclays have a problem - must be a resource issue. From talking to them it seems these are processed manually ( how bizarre) - I speak to them regularly! Always refer me to t&c’s - by signing them I gave them 10 days to process apparently -nothing to be done in the meantime but wait. Mainly an issue with Glencore divi/ return of capital as far as I can see - others seem to get processed fairly quickly so on balance not really reason to leave them, but annoying nonetheless. Waiting for the 10 business days to be up.

Me too, I like the company. Added 150 @ 1970 plus costs into my ISA. Long term hold. Averages down modest holding.

I’m in PSN, as much to be diversified as anything, I didn’t have any other in the sector. Dividend good, just need to keep a check on that. But one to hold for me for now.