You know the Market is completely irrational when a Ftse 100 Company gets gifted a £1bn+ bonus only to see its SP decimated by over 10% the very next day. Retail Investors will be leaving this Market now in droves, for good reason.
Good to see NXT being proactive here. Just a shame they have so much stock tied up in Shops & Whse’s that will likely be seasonally behind the curve when trading resumes. Could be quite a few discount Sales coming to your nearest High St. soon !
Declared but doesn’t go ex-divi until 23/4, not that that in itself protected Barclay shareholders. In a couple of weeks AV. should be understanding a lot more of the possible ramifications of C-19, on their business so I wouldn’t expect any knee jerk reaction just yet, but I detect Market sentiment wants Capital protection, unless they can demonstrate otherwise. I’m not optomistic.
RE: Down she goes again after a good start01 Apr 2020 11:31
Fruitster....correct, its not AV’s ‘raison d’etra’ to provide loans for as you say its more a function of providing diversity of investments to support their principal business activities. There is however an exposure here and I do suspect the PRA , who also oversee Insurer’s, will be anxious to see Capital protection, hence my concern over the Divi. GL
RE: As a bank they just never learn31 Mar 2020 12:37
Well the Directors certainly don’t try to engender themselves with Shareholders, when Mr Staley has just taken a£365k cash bonus, as part of last years £5.9m income. That could be a ‘bit rich’ for shareholders if the div now goes !
They could face a legal challenge if the divi is cut, given the record date was set some time ago. Their cover defense will be if the PRA steps it and orders its suspension. Can’t imagine they wish to go ahead with anyway now, given the tsunami of bad debts heading their way....but are banks always known for their prudence !
PFD under no obligation to issue TU , unless there’s a material change in circumstances, a mere boost in recent volumes that could be reasonably be expected doesn’t need reporting. Year end was 28th March so not long to wait anyway. Ps. interesting the Ocado update was immediately followed by a flurry of Director share transactions , so was this more for the benefit of shareholders or management !
Don’t know about 6 months but another month of negative news , which you can rely upon the UK media to provide in abundance,, and daily sells then NXT has no where to hide without any ability to release positive news. Completely unchartered territory when all trading has ceased. Can only see it moving one way. In 6 months without change then ‘life support’ will have been switched off.