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LTI
""a £2 Billion investment buying Barclays shares or other investments would increase earnings coming into Lloyds coffers""

Yes the buybacks will increase earnings per share and in the current climate Lloyds is undervalued so any buyback done should drive the share price up, I think it was a good decision by the BOD, Lloyds are unlucky again with Russia picking today date 24th.

All that being said, while share buybacks are generally more of a boon to senior management than they are to rank and file shareholders, they can be a good move in certain circumstances. The trick is to buy back the shares when they are undervalued, although, in my experience, chief executives always think their shares are undervalued.

It’s also a good way of spending money when the company can’t think of a better use for it, which is often the way with mature companies that throw off prodigious amounts of cash. Companies such as Unilever (£3.1bn), Unilever PLC (LSE:ULVR) (£3.0bn), HSBC Holdings PLC (£2.1bn), NatWest Group PLC (LSE:NWG) (£1.8bn), Barclays PLC (LSE:BARC) (£1.4bn), Standard Chartered PLC (LSE:STAN) (£748mln) and Glencore PLC (LSE:GLEN) (£747mln) have bought back prodigious amounts of shares over the last year and many have announced extensions to their share repurchase programme.

In many cases, spending a billion quid or so on share buybacks is preferable to a vainglorious acquisition; loads of research papers have concluded that most blockbuster acquisitions destroy value rather than create it.

On the other side of the coin, having a low share price and a big pile of cash on the balance sheet makes a company look like a proverbial sitting duck to foreign predators; given that UK companies seem to be operating in the global equivalent of Poundland at the moment, a share buyback programme might be the best bid defence there is.

https://www.proactiveinvestors.co.uk/companies/news/975045/lloyds-banking-group-the-latest-big-name-to-go-big-on-share-buybacks-975045.html

Who else benefits from share buybacks?

Well, senior managers and executives on long-term incentive plans (LTIPs) who are set to receive shares – sometimes for free, sometimes at the cost of exercising options – also benefit without really lifting a finger if the share price increases as a result of the share buyback.

Those same senior managers and executives on LTIPs whose bonuses are triggered by the share price rising by a certain amount are also probably big fans of share buybacks.

Similarly, many LTIPs have bonuses and rewards that might be triggered by an increase in earnings per share and the crucial bit here is "per share"; after all, if earnings stay the same but the number of shares in issue goes down, earnings per share automatically go up without senior management having to do a thing.

Who suggests these share buybacks?

Why, board members of course, although shareholders are given the chance to rubber-stamp them.

https://www.proactiveinvestors.co.uk/companies/news/975045/lloyds-banking-group-the-latest-big-name-to-go-big-on-share-buybacks-975045.html

ALIEN METALS (@AlienMetals) tweeted at 3:54 PM on Thu, Feb 24, 2022:
Palladium and gold surge with prices up 7% and 3.4% respectively
(https://twitter.com/AlienMetals/status/1496876189125853184?t=nBlqQAdjiMfFhdwst5lQ1w&s=03)

Lloyds is not hugely exposed to Russia, it says.

The shares today fell 4p to 48p.

It has had to set aside £1.3 billion to deal with the fallout from the HBOS Reading scandal that saw advisers milk millions from struggling small firms.

The money was spent on holidays, sex parties and watches.

Some bankers were sent to jail in 2017, the judge saying to one he had “sold your soul, for sex, for luxury trips with and without your wife”.

A diary entry from one of the sex workers they used read: “Met guys, me, Amber and Suzie. Chinese meal. Then drinks at flat and quick shag. Easy £1,500.”

Finance chief William Chalmers was paid £2.3 million.

Former CEO Sir Antonio Horta-Osorio got £2.5 million, including bonuses of £1.5 million.

This is where my 2019 dividend payment went

Nunn received £5.5million during that six-month period, through a £4.2million buyout of shares he held in HSBC, his former employer. His total salary below £1.2million

https://www.google.com/amp/s/www.canadaexpressnews.com/lloyds-boss-charlie-nunn-paid-5-5million-for-six-months-work/

100 HGV drivers at DO&CO, the firm used by British Airways for its catering out of London Heathrow, have voted overwhelmingly for strike action.

The strike is due to take place on 4th March and 5th March.

The industrial action is over a number of issues. As well as the alleged refusal of the company to discuss a pay rise for staff, there are also issues over employment contracts and – interestingly – allegations over the treatment of the funds in the company pension scheme.

DO&CO is also facing unfair dismissal claims from workers who left the company during the pandemic. When British Airways moved its catering contract from Gate Gourmet and DHL to the more upmarket DO&CO in 2020, 1,800 workers moved across under TUPE agreements. Over 1,000 were then made redundant.

Wisebear
Barclays 6p = sp is 200 = 3.00% yield
Lloyds 2p = sp is 52 = 3.85% yield

Every time Lloyds announces a buyback the price drops

Dividend and share buyback

The Group has a progressive and sustainable ordinary dividend policy whilst maintaining the flexibility to return surplus capital through buybacks or special dividends.

Given the Group's solid financial performance and strong capital position at the year end, the Board has recommended a final ordinary dividend of 1.33 pence per share. This is in addition to the interim ordinary dividend of 0.67 pence per share that was announced in the 2021 half year results. The recommended total ordinary dividend per share for 2021 is therefore 2.00 pence per share. The Board has also announced its intention to implement an ordinary share buyback of up to £2.0 billion which will commence as soon as is practicable and is expected to be completed by 31 December 2022. The Board intends to return surplus capital by way of a buyback programme given the amount of surplus capital, the normalisation of ordinary dividends and the flexibility that a buyback programme offers. Given the total ordinary dividend of 2.00 pence per share and the intended ordinary share buyback, equivalent to up to 2.82 pence per share, the total capital return in respect of 2021 will be up to 4.82 pence per share, equivalent to £3.4 billion.

Footsie was called 150 points lower after reports of shelling of Ukraine's capital Kyiv

Rolls-Royce, BAE and Lloyds lead roll call on 'Super Thursday'
It's the biggest day of the season so far for FTSE 100 results

https://www.proactiveinvestors.co.uk/companies/news/974900/rolls-royce-bae-and-lloyds-lead-roll-call-on-super-thursday-974900.html

Ukraine closed its airspace to civilian flights on Thursday because of military activities.
Russian President Vladimir Putin authorised a military operation in eastern Ukraine in what appeared to be the start of war in Europe.

https://www.airlive.net/breaking-ukraine-airspace-closed-to-all-to-civilian-flights-due-to-military-activities/

FTSE 100 ekes out a gain at the close, Wall Street still a sea of red
Markets are now in "wait and see" mode with regards to Russia's next move in the Ukraine crisis

ALIEN METALS (@AlienMetals) tweeted at 4:29 PM on Wed, Feb 23, 2022:
Russia could hit U.S. chip industry, White House warns. According to Techcet estimates, over 90% of U.S. semiconductor-grade neon supplies come from Ukraine, while 35% of U.S. #palladium is sourced from Russia. via ?@Reuters? https://t.co/E5SUyq10Zf
(https://twitter.com/AlienMetals/status/1496522720732975112?t=qgXzwllEJF6U_1_IRQ-m1g&s=03)

Robbren58

Thats all behind us now going forward they are expecting passengers numbers for 2022 at 45 million thats over double the figures for 2019 at 19.4 million, this should be a good year for IAG

International Consolidated Airlines Group (LSE:IAG) subsidiary British Airways faces renewed headwinds as passenger numbers at Heathrow airport slumped to a near-50-year low.

London’s largest airport lost £1.8bn in 2021 as the number of passengers fell to 19.4mln, the lowest since 1972, with current travel figures 23% behind the company’s forecast for last year.

The airport’s cost-cutting measures alleviated £870mln in expenses over the pandemic period but could not prevent losses of £3.8bn over the last two years.

Heathrow CEO John Holland-Kaye called 2021 “the worst year in Heathrow's history”,

https://www.google.com/amp/s/www.proactiveinvestors.co.uk/companies/amp/news/974855