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The fair value price targets published by Zeus, WHIreland, Cavendish and even the guy from the Investors Chronicle are looking miles away. Even Jim has gone off to buy houses, all very disappointing from a LTH point of view.
Well done
I bought some on 25th October 2023 at under 40p, so a double digit return/increase in capital value (nearly 20%) in a little over 4 months.
If you have banked that GREAT - It is not a "double digit return" from LLOY. It is an open market trade LLOY have no financial part to play in it.
Despite throwing billions into buying back and cancelling the shares this is the woeful performance of LLOY - I might add the 52.19p high was in March 2023 and has never been seen since - Question Will it get better in 2024?. Still guys maybe buyers will be attracted by the "double digit returns".
YEAR RANGE
GBX 39.42 - GBX 52.19
Which idiot posted this at 15:06 this afternoon:
"You still don’t understand that buybacks increase the share price by the percentage of stock removed from the register over the duration of the buyback."
Come on own up - it is almost as bad as "LLOY is giving shareholders double digit returns"
LTI you wrote
"NO, the dividend distribution has not been flat"
FACT Lloyds have spent billions buying back shares, they have announced huge profits
Feb 2024 final dividend 1.84p
Feb 2019 final dividend 2.14p
Not flat at all - just significantly lower.
So much for double digit returns - Haha.
LTI
Question - Have you age related memory problems or do you not remember whether you have or not?
I know exactly what I get -" the dividend paid into my account" might I remind you "that does NOT equate to the double digit returns" you continually spout on this BB.
LLOY is paying LESS in dividends in 2024 than it did pre COVID. The share price is lower than it was at the start of the 2023 buybacks and it continues to struggle to even attain 50p.
LTI you said
"Lloyds are making double digit returns to shareholders - no one should be complaining"
I recall receiving the interim and final dividend it was not a "double digit" return. I also note I own a greater % of the company, I also note my capital is less now than it was 12 months ago. I also note the company are retaining the dividend on the shares bought back and cancelled - reducing the total paid out to shareholders.
Question - are you getting something different??
For JOG this is another amazing milestone to have passed, apart from the legal certainty of closing, it puts JOG in a very strong financial position so that now they and their exceptional partners can take this project on to become one of the biggest, and low carbon developments in the UKCS.
For years I have been impressed by the way that JOG have moved forward and now that they have two high quality partners with Serica now formally on board (see comments below) they can kick on with certainty. My Price Target has been £10 per share for a long time now and at the current share price exhibits a material discount to the core NAV. JOG remains an outstanding investment in the sector.
I agree with most of the comments on here, one would expect any buyer with half a brain to shop around for the best deal.
LLOY has imo made a big mistake in creating the £450k provision, with Close Bros doing similar passing their dividend.
This will depress the sector now until the September outcome, potentially dragging on for months thereafter.
LTI - Your response, noted below. So perhaps you could detail what impact these events had on LLOY. That was a short lived event, indices in the US, Germany and France (maybe more) are this evening at record highs.
"The share price fell with news on SVB, Credit Suisse etc. and remained subdued throughout the rest of the buyback."
If there is a 20% future fall - you may then say "It was due to the car finance scandal" or maybe "Luke Shaw is out for a couple of months" I'm sure you will think of something.
IMO the inclusion by LLOY of the £450m is tantamount to an admission by the company that there is a problem.
That is all the FCA need to delve deeper and deeper into the issue to justify their reactive actions. Any decent regulator needs to be proactively reviewing financial arrangements in advance of products being marketed. Imagine if pharmaceutical companies were allowed to market products before they have been given clearance by the various medical councils. When will the appointers (ie Government) wake up to how regulators should function.
Despite a welcome 4.35% rise today (it was initially down on the day) the current share price is circa 13% lower than this time last year.
Sadly this has become and looks likely to remain a trading stock rather than an investment, with the prospect of another significant decline as the car finance fiasco becomes clearer in September.
Some WFT for Rolls Royce - surely this previously poorly managed company has benefitted from the unrest around the world. Then of course there is the banks throwing billions at share buy backs as they jump on the back of the interest rate hikes. - lets have a level playing field. Oil and Gas prices are more or less back to normal - Users are now paying for the "poor UK regulator" who allowed financially weak businesses into the energy market to create false competition when none was needed. Rant over.