Hi , if you have been a long-term share holder like me it can be quite difficult to work out your average . There have been rights issues , open offers , then averaging down etc Its a long list . I have an approx figure, but I was wondering if I should take dividends into account ?
I have now received approx 40k in divis since Lloyds staring paying again , - should i take this out of my 300k total spend on Lloyds ? Making my total £260 ?
Thanks for any thoughts ...
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fastFT Lloyds Banking Group PLC Added
Lloyds faces bill of up to £500m after landmark pensions ruling
High Court said Lloyds must amend schemes to equalise benefits for men and women
Jane Croft 39 MINUTES AGO Print this page
Lloyds Banking Group must amend its pension schemes in order to equalise benefits for men and women, the High Court has ruled in a landmark case set to have far reaching implications for thousands of other companies.
Mr Justice Morgan ruled the Lloyds Banking Group pension trustee was under a duty to amend the bank’s pension scheme, after a case brought by three female members of the scheme who are claiming sex discrimination on the grounds that their pensions increase at a lower rate that those of their male counterparts.
“The Trustee is under a duty to amend the schemes in order to equalise benefits for men and women so as to alter the result which is at present produced in relation to GMPs [Guaranteed Minimum Pensions],” the judge ruled on Friday.
The case is set to have huge implications for other companies and public sector employers that have final salary pension schemes. The Department of Work and Pensions and the Treasury were interested parties in the case because of its wider implications for the public sector.
Lloyds may have to pay between £100m-£500m as a result of the ruling on equalisation. It has been estimated that the cost of equalising Guaranteed Minimum Pensions (GMPs) across all contracted out pensions could reach £20bn.
The case centres around Guaranteed Minimum Pensions for employees who contracted out of the State Earnings Related Pension scheme in the 1990s.
Under contracting out, employees and employers were allowed to pay a lower rate of national insurance. In return, businesses promised a GMP to employees, which was to be “broadly equivalent” to what they would have received from the state pension, had they not been contracted out. Currently, rules allow GMPs to be calculated differently for men and women.
The High Court had been asked to rule on whether GMPs needed to be equalised and, if so, how this should be done. In 1990, the law changed to mean all UK pension schemes had to equalise pension ages for women and men, but the law setting out the way their GMPs were treated did not alter.
Lloyds said in a statement: “The hearing focused on what is a complex and longstanding industry-wide issue. The group welcomes the
Lloyds posts profits ahead of expectations thanks to car finance
The bank also announced the departure of its long-serving finance director
Nicholas Megaw 8 MINUTES AGO Print this page
Lloyds Banking Group’s growth in higher-margin areas of lending such as motor finance helped limit the impact of competitive pressures that hit some of its rivals in the third quarter, with revenues and a key profit margin remaining steady.
Total income at the bank increased 1 per cent year on year, to £4.7bn, slightly ahead of FactSet consensus forecasts. Pre-tax profit in the quarter shrank by 7 per cent, driven by increased restructuring and investment costs announced earlier in the year, but profits were still up 10 per cent for the first nine months of the year overall.
Lloyds’ net interest margin was also steady at 2.93 per cent. Net interest margins have declined at almost all the country’s largest lenders this year, but Lloyds’ cost-cutting efforts and growth in growth in “targeted segments” have helped it avoid the worst of the pressure.
António Horta-Osório, Lloyds chief executive, said: “These results further demonstrate the strength of our business model and the benefits of our low risk, customer focused approach.”
In a separate statement, the bank announced the retirement of its long-serving chief financial officer, who helped steer the bank back into private ownership after its bailout in the financial crisis.
George Culmer, who joined Lloyds in 2012, will leave the bank in after Lloyds’ half-year results last year.
On Tuesday the group confirmed a tie-up with Schroders, the asset manager, that will see the two groups launch a new joint venture to provide financial planning and wealth management.
The groups also said they would consider co-operating on additional projects including potentially offering Schroders’ active asset management services for Lloyds’ regular retail customers.
The bank also said it was on track to meet previously-strengthened forecasts for capital generation, paving the way for it to announce a significantly higher share buyback at its full-year results in February.
People familiar with the bank’s plans told the FT earlier this week that it is looking to buy back almost £2bn of its shares in 2019, double this year’s tally.
My goodness what is going on with the share price ? Surely to god its time the CEO stood down - the share price performance has been absolutely shocking the last few yrs .
Never mine excuses , this & that , & Brexit , this guy simply cannot justify his wages - he should be made to go .
Peachy things are not