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The Algos wouldn't notice Lloyds or its buybacks. The technical parameters are so dull Thinking aloud, Lloyds could very well have gone for 500million buyback+500million special divi at the last full year results. Not sure why they would put the entire pot for buybacks especially if the buybacks are a trickle down.
"On the dividend v buyback issue, George Culmer said that now that the ordinary dividend is at a more normal level then a buyback seems more appropriate." In my opinion if Lloyds think the Divis are at a normal level then the share price will be stuck in the present range 62-72p. Only if the divi yield rises to 6-7% will the share price move up to provide a yield of approx 5%.
Logically one should expect a special divi because of disposals, but the overriding message from Lloyds has been 'Jam Tomorrow' ...i expect more of a MBNA type expansion. Black horse has been trying to be a growth stock rather than a dividend stock.
SUC- Good you have sold Lloy & are back in. Others were not so lucky, believing every PPI payment would be the last, as told. Even the 2018Q1 had 90 million PPI provision. John 46 - Surely there is something why Lloyds has been suppressing dividends
"wouldn't it be sweet if Lloy shocked the market with a surprise 'surplus funds special divi' at H2" - Going by the track record it is more likely shareholders will have an increment of 0.15~0.2p, in total 1.15p or 1.2p for H2. Very soon RBS will start paying dividends. RBS yield same as Lloyds !! http://www.proactiveinvestors.co.uk/companies/news/197379/royal-bank-of-scotland-considering-paying-dividends-of-similar-level-to-lloyds-banking-group-197379.html
"Eric Daniels actually cared about the share price" SUFCESSEX can't agree more. Eric Daniels tried to salvage Lloyds share price before he left. It was surprising that Lloyds were challenging his �1.35 million bonus whereas they should be spending more time trying to sort bigger issues, misplaced priorities as reflected in current share price, branch closures, redundancies...not surprised to see a new 52 wk lo.
With only 3 trading days to go for delisting , all the lofty talks by the BOD in the financial year statement to propose delisting was only to squeeze the small shareholders.
In my opinion the bod are honest just that they were fed up with the SP not going anywhere and that was impacting their ability to fund future developments. Technically there can be many scenarios but if they are to decide ethically then fair value estimate can be expected. The EGM on 5th may should provide the answer.
Agree they can offer any share price to buy existing share holders. However 10p offer would look really cheeky specially with the board trying to harp on the great reserves RPO possesses. http://www.ruspetro.com/en/shareholder-information.php There are currently 113.574 million shares on free float as per above link. RPO not being listed on LSE for a 2 years alone would save £10 million + the reserves of RPO. Roughly 10p per share is what they save in two years for the free float shares. I would expect them to offer at least 30p per share for any fair value. At 30p the buyer would need to pay £33.9 million for 13.1% stake.