Member Info for Phyl

Hasn't gone down too well in my humble household. My reason for investing was to hold for the very long term and use the fairly higher than normal (it must be said) semi annual (ISA tax free) dividend proceeds as a means to top up my pension. If I'm reading the RNS correct, Antonio Simones has re-confirmed the 2024 divi payment of 5% but thereafter, up to 2027, it'll reduce to 2% thus negating the reason for investing here in the first place. Sigh. I suspect this news could be good news for those holding or considering to but MNG and PHNX. I completely understand the logic though. LGEN's share price has languished and so they're trying to do something about it. Not working thus so far. The SP has plummeted. Existing shareholders are the losers today. Many, who were in the blue are now well & truly in the red.

Really interesting read that helps to nicely summarise LGEN's business models in layman's terms. Hope you find the link (below) as interesting as I do.

https://www.telegraph.co.uk/business/2024/06/08/legal-general-new-boss-antonio-simoes-bets-ageing-britain/

All the best to all those invested here.

Phyl

Fidelity International takes a few days. I'm expecting my dividend reinvestment to land by Monday, 10th.

Does anyone know what the dividend reinvestment price is?

I'm almost at break even!

Had someone offered me a share price in the region of £2.50 on ex div day and on the eve of my dividend reinvestment day, I'd likely snapped their hand off or even their arm. This has been one of those rare occasions when the Share Price hasn't tanked post ex div day. It has more than held its own. It might even make those who usually sell, wait for the drop before buying back brigade, think twice before doing so in the future? Not that I'm criticising the strategy of course,as 99 times out of 100 it does prove a rewarding strategy. Anyway, I for one am looking forward to receiving my additional shares tomorrow if they come on time. They'll help reduce my average cost per share by a penny or two! Best of luck to all LGEN retail investors.

I doubt any announcement regarding a buy-back would have much impact on the share price. I suspect most folk on here are in LGEN for the dividend income and as the BOD 5yr 5% dividend commitment comes to an end in 2024, I'd like to see a re-commitment to another 5yr 5% dividend policy. This would be more likely to have a positive impact on the share price in my opinion. Definitely don't want to see an erosion of the Divi in favour of Share Price growth as this is not what LGEN is about. In any case, just by reducing the divi does not necessarily guarantee Share Price growth. I accept some will disagree with the above.

Much a do with market sentiment as much as anything else. FTSE & other indices all up this morning. Shein are purported to seeking a listing and this all helps lift the mood.

No worries Old Tramp. I see Graham Reid's spreading the good word over at Parliament. Here's the link...

https://x.com/saerenewables/status/1793285173594779769?t=ncouwLM1ljh50Sh1lVkkpQ&s=19

Apologies folks, as per usual, the opposite to what I thought would happen has happened. The UK stock market looking like a sea of red on opening bell. Fingers crossed it improves during the course of the day. It feels like a gross overreaction to what is, quite essentially, good news?

I hasten to add, provided this news helps bring down the interest rates a little bit quicker! I see even a reduction to 2.3% won't satisfy the economists as they expected 2.1%. That's probably a tad over optimistic.

I'm keeping fingers crossed we will see a reversal of the past couple of days with a spike in the SP this morning. This follows the news that inflation has lowered to 2.3% which is a tad short of BOE targets. This makes the circa 8% LGEN dividend even more appealing to both existing and new investors. LGEN should, in theory, attract further monies boosting the SP. Fingers crossed.

And here's another, arguably more pertinent link...

https://twitter.com/saerenewables/status/1792941241547547043?t=jQOcofD_BLeBR0Xl4xKgVg&s=19

Https://twitter.com/saerenewables/status/1792912586003911002?t=giO0NIFIuGXFTxpOcySa1g&s=19

Hi Fisherking, many thanks for your response. TBH, I'm not altogether sure how LGEN calculates the dividend reinvestment rate. My understanding is that they work out an average price based on low to high SP over the period of time between XD and payment date. I may be wrong on this and will gladly be put right. In terms of the tax situation on dividends, this is something I'm a tad more savvy. Remembering that my particular LGEN holding is kept in an ISA tax wrapper, here's the official word on the matter:

"You do not pay tax on any dividend income that falls within your Personal Allowance (the amount of income you can earn each year without paying tax). You also get a dividend allowance each year. You only pay tax on any dividend income above the dividend allowance. You do not pay tax on dividends from shares in an ISA" .

Hope this helps clarify the matter of tax on dividend payments. Good luck.

Strictly, in my very humble opinion, you could have switched into something else much worse than LGEN. I'm a long termish investor here and been through the highs & lows on perhaps far too many occasions. Sometimes I question myself for holding this stock, but something tells me to persevere. My strategy for what its worth, is to secure tax free dividend payments to supplement my pension in a couple of years time. I may sell a few closer toward the time and invest elsewhere to reduce my exposure but thats a decision for another day. Good luck here.

Post XD is just about behind us with the SP holding up very nicely indeed. Some folk on this board thought maybe the SP would continue to sink toward £2.20 post XD, but the opposite seems to be happening. Since post XD the SP has recovered beyond imagination as the norm is for it to continue dropping I must admit. For those buying in on the XD drop, congratulations, you are all in the blue. I have LGEN tucked away in my ISA. I'm 60% all in which many on this board will shout against not being diversified enough. I, like many others, can also look toward a dividend reinvestment payment early June to help compound matters. Normally, at this time of year, I simply sit indoors and watch the rainfall on my LGEN shares, but today, I'm having my day in the sun. Good luck to all LGEN investors on this board no matter what your short, nedium and long term strategies are.

This board is just about as inactive as it's shares have been, however, and believe me, I never thought I would be saying this, but on last night's closing bell, my WWH shares turned in a small profit. Just £72 quid, and wonders never cease, but that compares very favourably with a £2k loss not that many weeks/months ago. I vowed to sell up just as soon as I reduced those losses, however, with momentum finally appearing to be on its side, I might just keep surfing the tide. Well done OrbiMed!

Morning Rob, yeah, almost anything can happen in the next half hour as the commander of Stingray used to say. It could drop of course depending on the markets in general or geopolitical events etc., however, in the past, post XD day, we have generally suffered a remarked downturn in SP, but thus time around, we haven't. It's been much more resilient. That's a tad unusual wouldn't you say? I for one, hope the momentum continues, but I do understand your wish maybe for it to fall. As I recall, you edged your bets by selling circa 50% of your holding just in case the SP suffered a significant downturn? Under normal circumstances, this is not a bad strategy. I do wonder now whether it is the right strategy over the coming weeks. Time, as always, will tell.

In response to zac: By automatically setting my ISA account to dividend accumulation as opposed to Income. My dividends will, therefore be re-invested in aquiring more more shares in June in line with my strategy to build my holding and take advantage of compounding. This strategy also benefits pound cost averaging by lowering the cost pet share. The point I was trying to make is that the SP has held up (unusually) particularly well post Ex-D. This has benefited some but perhaps not all, hence the use of the proverb.