Member Info for Richard365054

I had a very nice response about the dividend situation from a Lord who resides in my county. I only wrote first thing this morning and he gave me another House of Lords contact who sits on the Banking Standards Board. Needless to say..............................

Oxo42, SUFCESSEX, I've been looking into my local Lords and it appears I have quite a choice, including Lord Bragg. I may touch my forelocks this evening as I compose a suitable letter.

I'm much more cautious about this pandemic as I believe there could be some frightening consequences in the developing countries like India, Pakistan, South America and Africa. The virus may be slower to move because of poor transport infrastructure, but conversely, the health care systems in a lot of these countries is pretty basic. We will also have some terrible mortality figures to come out of the US as the virus is still at a quite early stage.
As for China, who believes anything that they say about pandemic.
Finally, it would be helpful to have a response from our CEO, but I wouldn't hang around holding my breath.

Silverjetta, I am still breathing but the board is a little quiet this morning!

Tranter, my heart goes out to you when you explain the impact of how the cancellation will affect you. As much as anything it's the time period of two years that's a bitter pill go swallow . The B of E/FCA/PRA could have given some consideration to reducing the 2019/2020 dividend, knowing full well that a huge number of small investors would be heavily affected.

JerseyCrew, if you care to read the correspondence for the last 5 days, you'll get the gist of it.

Sorry, couldn't see that my first post had come up so rewrote and reposted.

Good for you, SUFCESSEX. Don't forget your own MP.
Interesting how the Banks in the US will pay their dividends because the view is it would undermine the belief in the economy if they did otherwise. Be also interesting if an EGM is called at HSBC as investor sentiment in the Far East is off the scale that they have decided on this course of action.
Hopefully, many businesses will be back up and running after three months but it's damned unfair that the Banks have been pressured to retain their dividends for 2 years. They've even come out and said they almost certainly won't need them.

Pleased you did that, SUFCESSEX. Don't forget to include your own MP.
It never hurts to let them know the disproportionate impact it will have on some of us. In the US the Banks have been left to pay their dividends otherwise the feeling is it would undermine confidence in the economy. HSBC may have to face an EGM and that could be interesting. Will it all make a difference - who knows but it certainly wouldn't change if we did nothing.
Hopefully a good proportion of the economy will be back and functioning after three months. For the dividend stealers the sentence is 2 years and that is very unfair, especially after the Banks have said they probably wouldn't need access to these funds.

That proposed high speed line seems value for money. Our HS2 is twice the cost and 5% of the length!!!!!!

I keep checking the numbers for the Far East as well as Africa. It'll be,a huge worry if this gets a foothold in a undeveloped country with minimal medical resources.

Snige, I did do voluntary work at an animal rescue centre although all the volunteers have been stopped attending to minimise foot fall. I've always loved cats but you can never work them out. Most tend to be solitary but siblings and those reared together from kittens can be amazingly close. They often make friends with people you would least expect.

It's more than frustrating to see the USA take a completely different view over Bank dividends. Also interesting to see the movement against HSBC.

Rosewall, you talk about those who would not support shareholders complaining about not receiving their unearned income, but it's taken a lot of earning, thrift, sacrifice, hard work and paying taxes on income to be able to put the proceeds into shares in the first place. Many of these investors will not have had access to final salary pension schemes during their working career and therefore don't have the income from these sources paid for in the main by the private sector.

Theosus, I have thought of an online petition but I'm of the belief that masses of emails to various individuals would have a greater impact. There aren't a huge number of regular posters on here so the response might be quite small. I just like the idea of bombarding the relevant individuals.

I wonder how the AGM will function and receive shareholders questions since there must be a large question mark over any audience attending.

Useful contacts as promised:

andrew.bailey@bankofengland.co.uk

Sam Woods - Deputy Govenor of the B of E and Head of PRA. Cannot find an email to this individual so wrote to Andrew Bailey and asked him to forward on!!

antonio.osorio@lloydsbanking.com

boris.johnson.mp@parliament.uk This will get a response to write to: https://email.number10.gov.uk

rishi.sunak.mp@parliament.uk
This will get a response to write to public.enquiries@hmtreasury.gov.uk
Address for the attention of the Chancellor Mr Rishi Sunak.

kevin.hollinrake.mp@parliament.uk

Oxo42, I will put those together shortly and post on line.

I'm just writing a letter to Sam Woods, head of PRA. This will be my sixth so far to various individuals. I don't hold out much hope for many replies.

Just heard a good one from the Footballers federation. Saying if they took a pay cut it would damage tax receipts needed for the NHS.

2227, isn't it interesting that another democracy has a 180 degree view to ours regarding cancelling Bank dividends. All down to which way the wind blows inside the PRA and B of E.