Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
My biggest concern is that the BOD by hanging on to large surplus's of cash are leaving the company wide open to HM Treasury seeing it as a pot to be tapped into to help fill the huge deficit built up during the pandemic. Once the worst has passed then banks will be fair game and the gloves will be off .
I have submitted the following question for consideration at Thursdays conference:
"xxxxxxxxxx2: private investor.
Holdings with II. Currently 66k shares
Until March 2019 you were committed to paying out 2.25p for the 2019 final dividend and planned for 0.67p per quarter for the first 3 quarters of 2020.
When the PRA stop interfering will either the committed or planned payments be made to shareholders in cash ? The CET1 ratio suggests you have the funds to do this.
Regards
XXXXXXXXXXXX "
One can but live in hope
I agree with Rosewall.
Buybacks at the levels previously undertaken have no influence on the share price.
I can think of only 2 reasons why LLOY would buy back it's shares.
1) to keep the overall volume in check. I.e. to counter the 500/750m p.a. shares they issue to meet it's employee obligations
2) The board have nothing better to do with surplus capital
I have no problem with 1) although the process mystifies me.
If 2) is true I would rather have the surplus as a divi as I'm damn sure I can find something productive to do with it.
Like you I am in a holding pattern.
Tomorrow could be interesting given the very large late trade declaration
Hi Furry ,
Grumps isn't the only old stager hanging around. He was the well dressed one.
Bertram: the last 2 buybacks have had no influence on the share price . They were to small and swamped by other events.
However LLOY issue about 750m new shares a year so with no buyback the share register would just grow so i expect a buyback of a minimum of 750m to be announced. Whatever divi is announced appears to me to be a political decision. After all HMG will not like big nasty banks making hefty profits and doling out money to fat cat shareholders whilst the rest of the nation suffers the effects of government policy. Bad press old boy. As a result I expect maximum buyback and minimum divi. Sadly Joe public doesn't seem to realise no/reduced divi impacts their pension plans.
The River Severn now floods Worcester about twice per year. It didn't use to. I believe the river is now 12 feet shallower than pre dredging ban and getting shallower every year. That's an awful lot of water. Coincidence ? I don't think so.
Hi Grumps. They will be experts at presenting a stylised version of reality.
Putting to one side the concept of HMG supporting manufacturing in Britain ( god forbid that should ever cross the minds of Whitehall ). Should HMG be giving personal information to a company in foreign country owned by parties from yet other countries. Under whose laws would data breaches and misuse of data e.g. creation of false passports be dealt with.
I've just logged on with no problem
The other place is back up and running.
Start of buy back programme 2018
08/03 TVR 72.1 billion SP 67.6
24/08 TVR 71.1 billion SP 61.0 Shares purchased 1.6 billion approx cost £1 billion
Second tranche 2019
01/03 TVR 71.3 billion SP 63.3p
06/09 TVR 70.1 billion SP 49.8p shares purchased 1.9 billion approx cost £1.1 billion
31/12 TVR 70.1 billion
2020
31/12 TVR 70.8 billion SP 36.8p
I would posit in practice buy backs have had little or no influence on the SP as it is swamped by external factors.
From a purely personal perspective my view is: If a company isn't able to make profitable use of its accumulated capital I would rather they gave it to me than buy back shares. I will find something profitable to do with it.
TLB:
18/12 TR1 UBS Zurich
Previous notification 8.37%
Resulting situation , < Notifiable threshold. i.e <5%
23/12 TR1 UBS London
Previous notification Below threshold <3%
Resulting situation 8.41%
Isn't this a transfer of existing holding from Zurich to London ?
If it is it remains to be seen why.
Whatever the outcome of current talks 2021 will begin 1st January. 68 million people will still need feeding, clothing heating , transport etc. Their will be shortages but they will be overcome . Business will adapt to whatever the scenarios they are presented with. My biggest fear is it will further destabalise the EU which already has its own internal problems aplenty.