RE: Tide21 Nov 2022 14:13
The Reducer, CEREUS and BadJob
The questionable aspect regarding the terminology over the timing of the ECB (Ole Costas H'O the clearing B) ordering / telling Sam Woods over here at the PRA / basically the curtain twitcher's at the BoE. "To postpone", no mention back then of cancel ! We were all within 48 hrs of the dividend going through . . . Great April fools joke that turned out to be, aye !
. . . In response to a request from the Prudential Regulation Authority (PRA) the UK’s seven largest banks are to suspend £15bn of dividend payments to shareholders and halt buybacks on ordinary shares until the end of 2020, and will also cancel payments of any outstanding 2019 dividends
The PRA wrote to HSBC, Nationwide, Santander, Standard Chartered, Barclays, RBS and Lloyds asking them to agree to publish a statement it had drafted.
This read: ‘In order to help us to serve the needs of businesses and households through the extraordinary challenges presented by Covid-19, the board has decided that until the end of 2020 we will undertake no quarterly or interim dividend payments, accrual of dividends, or share buybacks on ordinary shares.
‘In addition, in response to a request from the PRA and to preserve additional capital for use in serving our clients, the board has agreed to cancel payment of any outstanding 2019 dividend. Our board will decide on any dividend policy and amounts at year-end 2020.’
SO WHERE IS THE HALF OF 2018 THEY OWE EVERY SINGLE SHAREHOLDER FROM THE DATE PRO RATA, BEING THE LAST PAYMENT ?
After all they (Barclays) did swap from quarterly, to half yearly.
This still makes my p*** boil thinking about it, some on here are probably reading this, thinking its in the past, forget about it. If you are one of them thinking that, may I ask if you would feel the same way, if someone "stole" enough to buy a brand new family car from your bank account, because thats what they basically did to me in caparison.
Absolutely criminal what they Barclays did, like Reducer points out, "deliberately hiding behind a Govt directive". Which is exactly what they did.
Having gone at the BoE, PRA and Barclays they all refer back to the LSE and some paragraph about dividends.
Though the things that niggles me is that Barclays Nige Higgins)publicity said that they were well capitalised to pay the dividend, the 2nd clause was if the said company was going into liquidation and could not continue to operate.
SO NEITHER OF THE LSE RULES THEY ALL REFER TO APPLY , so where where is my pro rate EX dividend payments gone then Barclays ?
If anyone else gives 2 flying chuffs, maybe we can take a private action like they keep doing over the pond, currently claiming back lost shares holders money for incompetence regarding the over selling fiasco.
Crikey we are too soft and accepting in the U.K
Rant over ( Any mention of the div gets my hackles up)