Member Info for StrollerB

Jeez .... what is this Plato guy on?

My filter list

As I understand it the share buybacks are being generated by an ALGO. The criteria contained in the ALGO was set by LLOY. MS have no say in the purchase quantity or timing they just manage the output from said ALGO.
The issue is simple . Can the ALGO spend roughly £500m in 98 trading days ( I make it 101 days but let's not split hairs ).
Clearly 11m per day is not a problem but as each day passes at the current levels it will progressively become an issue.

I do wonder though does it really matter if the £2b is not spent bu year end ?

And so the nonsense continues. 210m traded. Our contribution 15. A whole 185 shares in 5 days

I know to the share how many have been bought and at what cost. I am certain they will complete on time the full programme, That's not my point. They have constructed an algo trading programme that has no obvious human override and no obvious lower purchase limit. God knows what else is in there, or isn't. With 68b shares in circulation when the programme purchased 34 shares on 19th July someone should have been saying what the f***. For any business this would look amateurish. For a bank I find it both amateurish and worrying.

Am I alone in thinking LLOY are starting to look stupid. They state the purchases are machine driven based on criteria set by them. Having bought 158 shares at a cost of £72 over 3 days surely someone will be looking at the programme criteria. If a P.I. admitted to trading like that they would be advised to seek urgent medical advice

At the risk of daring to talk about LLOY I am wondering why the buy back programme as reduced to a trickle.
Billions have been purchased at higher prices than those prevailing this week.
Are they expecting the price to fall further ?
Has the money pot run dry ?
Has there been a change of direction not yet signalled to the wider world ?
Have the agents been struck down with covid ?
Frankly i'm baffled.
What am I missing ?

Chips: Not sure how the interim div will be handled.

Sept 21 act Shares in issue 71.0b - div 0.67p = £476m

Sept 22 est Shares in issue 67.3b - div 0.67p = £451m

Sept 22 est Shares in issue 67.3b - div 0.70p = £471m ( pay out +4.5% up lift but same cost as last year.)

Will they base the "progressive div policy" on uplift based on value per share or overall cost to the company

Zager and Evans

OB : i'll be there. will you ?

So the unions complain their members have been overlooked whilst the shareholders have reeived dividends. I must have fallen asleep. I don't recall lloy work force not being paid for a year.

None today or have i missed something ?

HardUp: By the time we get to interim dividend announcement for 2022 I'm guessing there will be circa 5% less shares in issue than when announced in 2021. For a given pot of money this represents a 5% increase in the dividend. Do you believe the company will increase the absolute value per share i.e. .67p to .70p as well ? Just what do they mean by "a progressive dividend policy " ?

The company spends £2b and reduces the shares in issue by circa 4b thus it saves £80m on dividends i.e. a 25 year payback. What other value does the company derive from the buy backs ?

The share holders get an increased percentage holding of the company whose assets have now reduced by £2b. a zero sum ?

Given there are no guarantees that the buybacks will lead to an increased SP or dividend as far as I can see the company is worse off and the remaining shareholders are left to the vagaries of the market and performance of the company.

I've asked the question before and got no answer so will ask again.

If 71b shares in circulation is too many what is a reasonable number to have in circulation and how do you calculate it ?

The argument that it would take 10 years for fracked gas to become available in volume is only valid if the status quo is maintained re planning permission. If faced with the possibility of extreme structural shortages or politically impossible supply choices all road blocks to extraction would be removed . If the choice is of no gas or fracked gas it is not a choice.

Many contributors to this site complain there are to many LLOY shares in issue.
Serious question : What constitutes a reasonable number of shares and how do you determine it ?

As an aside pre pandemic LLOY were issuing circa 750m new shares per annum.

typo - should read 28/02/22 71.0b shares SP 49.69

Asp1: "I will benefit from higher divi & SP in the future Maldim"

Why do you say this ? History does not support this assertion.
08/03/18 72.1b shares SP67.64
24/08/18 1.6b shares bought SP60.99
Dividend paid in2018 3.12p
01/03/19 71.3b shares SP63.28
06/09/19 1.9b shares bought SP49.83
Dividend paid in 2019 3.26p
28/02/22 70.0b shares SP 49.69
Dividend to be paid in 2022 likely to be in the range of 2.0 to 2.2p range

If LLoy had the resources to pay 2.24p final divi in May 2019 they certainly have it now as the balance sheet is considerably stronger than then. I see that as a minimum they should declare on Thursday . I would prefer it as a "normal divi" but would accept it split between "normal" and "special". I'm not holding my breath though.

I fully expect there to be a buy back programme if nothing else to counter the new shares both issued and to be in the next 12 months .

They really need to get the balance right between staff bonuses and rewarding long suffering shareholders.

Roll on Thursday.

I find it all bizarre. I contend it is not possible for anyone to invade the US , Russia or China. Because of their location , sheer size and weather make the logistics impossible and cost in human and financial terms prohibitive. The only place in the northern hemisphere vulnerable is Europe which remains safe as long as US are prepared to protect it. Whether the EU like it or not without US support it would be toast if Russia chose to invade. France may hate being dependent on US military power but it's a fact of life and France has form when it comes to war. So why don't the 3 major powers accept their position and agree to coexist whilst keeping the rest of the world in check.