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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Alliance & Leic | AL. | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 234.00 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 234.00 | 234.00 |
| Top Posts |
|---|
Posted at 01/12/2009 19:26 by cockney sparrow Might visit and AL. branch and have a chat with an Financial Advisor. Now which branch shall I visit??? |
Posted at 05/10/2008 14:43 by debbiegee Hi guys could you please tell me if Im correct in thinking that I can still buy AL. shares and recieve 1 santander for every 3 AL.?Could somebody give me the ticker code [with prefix for advfn monitor] for Santander please. Thanx in advance |
Posted at 02/10/2008 10:53 by evox Monday 6 October Expected A&L interim dividend Payment dateTuesday 7 October Court hearing to sanction Scheme Thursday 9 October Court hearing to confirm the reduction of capital Friday 10 October Last day for dealings in A&L Shares * Friday 10 October Effective Date - New Banco Santander Shares to be issued * Tuesday 14 October Dealings in New Banco Santander Shares on the market of Bolsas de Valores expected to commence. Admission to listing of the New Banco Santander Shares on the London Stock Exchange expected to occur. * Friday 31 October Record date for Banco Santander third Quarter Interim Dividend Thursday 13 November UK holders of Banco Santander Shares sent cheques for third quarter dividend * * These dates are indicative only. They will depend, amongst other things, on the dates upon which the Court actually approves the Scheme and/or confirms the associated reduction in capita |
Posted at 15/9/2008 18:13 by diydan Thanks to both of you for the info. However I am a bit surpriced it was not fixed on the day of the deal. It would seem to me that the market is wide open to manipulation. For example if AL. had gone up in last month and Santandar gone down the offer would have become a very bad deal for AL. holders and may have said no. The reverse is obviously also true if AL. share price drops faster than Santandar then the holders of their shares may think they are paying too much. I had thought that at the time of the offer shares in both banks would have been suspended? Is there an end date for completion or do they wait till they get 75%Thanks and regards to both. |
Posted at 25/8/2008 20:06 by evox To sell or not to sell? The great A&L takeover debate ALLIANCE & LEICESTER shareholders received voting packs last week on its proposed takeover by Banco Santander, the Spanish banking giant that owns Abbey. Each of A&L's 564,000 shareholders will have until September 16 to decide on the £1.3 billion bid, which would see A&L merge with Abbey. The board has unanimously recommended that shareholders vote in favour of the takeover. Roy Brown, the acting chairman of A&L, said in the 254-page voting pack: "The proposed acquisition would bring together in the same group two well known UK banks and create a more effective competitor in UK financial services." So, what should shareholders consider before the vote? If the deal goes ahead, A&L ordinary shareholders will receive one new Banco Santander share for every three A&L shares. A&L will pay an interim dividend of 18p a share to those who held shares at the close of business on September 5. That payment will be made four days before the proposed takeover date of October 10. Experts say, however, that the takeover is not a great deal for investors. A&L shares reached a high of £11 two years ago, and the Spanish bank's bid values A&L at just 335p a share. This factors in the 18p dividend. "A&L shares have been on brokers' sell list for a number of months," said Richard Hunter of adviser Hargreaves Lansdown. Brown has said that A&L faces "significant external risks" from the slowdown in the economy and continuing turbulence in financial markets. A takeover by Santander would link A&L with Europe's second-largest bank after HSBC. Santander has operations in Latin American economies, which also helps spread risk from western Europe. For those with a large number of shares, the takeover could help diversify their portfolio, giving access to a "well respected overseas bank", said Hunter. However, he added: "For someone with only a few shares, you may consider selling them for practical reasons. Buying into European shares means the commission you pay will be higher when you sell and there's also an exchange-rate risk." If shareholders sell before September 5, they will not be entitled to receive the interim dividend. Those who want to vote by post need to ensure their forms are received by September 14. Votes are not being accepted by fax or e-mail, but you can vote online at alliance-leicester-s Shareholders can also vote in person at an extraordinary meeting due to be held at the International Convention Centre in Birmingham on September 16. The acquisition will take place if the majority of A&L shareholders vote in favour and the majority holds 75% or more of the total value of A&L shares. There will also need to be regulatory approval before the deal gets the green light. |
Posted at 18/7/2008 09:44 by keith95 Indieman .... my gripe are the general upbeat comments from AL.one example "Alliance & Leicester has made good progress during the first four months of 2008." From may this year. Reading between the lines ... there has to be some gross problem which AL. have decided not to share with the market which is I believe contrary to their duty to inform shareholders. AL. has not... informed us, so the best we can conclude is that the malaise in share price is down to the wider market which Santander are quite rightly taking advantage of. Santander are to inject 1 billion cash into AL. If BB. can mange 400 million then AL. should be able to grab the cash it needs from the market given its upbeat statements. Morover, Sandander point to numerous benefits in taking over AL. which satisifies their "investment criterion"... no surpirse there. Looking at the number of shares held by AL. management, its no big loss to the majority of them with the exception of two who have significant holdings. I certainly won't be voting in favour of the offer.... but have seen pretty much the same thing happen with THUS which has been taken over at a large fraction of its true value by C&W under pretty much the same circumstance. Anyway .. whats done is done: One moves on. |
Posted at 06/7/2008 14:47 by jazza Forwood,You have to laugh at these journalists. A dividend yield of 13.7% is "normal".....PMSL. The market is pricing in more like 10-15p..CSM may well be right about no dividend but I'd probably go for them paying the divvy in shares for at least half a year. |
Posted at 06/7/2008 10:41 by forwood On the contrary, this provides a level of certainty that will help underpin the shares. If we really thought we could get a 20% return by investing in the shares, it wouldn't have fallen to this historic low! The reason it is here is doom and gloom uncertainty with the likes of BB's capital raising disaster, falling house sales, lower mortgage demand, building companies going to the wall, etc, etc., all fuelling the panic. What if AL needs capital? What if there's more losses to come? What if they cut or pass on the divi altogether? At 255, a dividend of 35p is a yield of 13.7%, more than enough to tempt any investor. It is a painless way of preserving capital, and will help to reduce if not remove suggestions that AL. will need to raise capital. Historic yields on other major banks are between 6% and 18%, with the median at 12% (Barc, Lloy, Bank of Ireland). How many more of them will be reigning back on the dividend before the year is out? I suggest you have a look at the expectations for future divis on Digital look. AL. will still be market leading, which improves the likelihood of share price growth relative to peers. I have to assume that this reduction is enough - that £80m is all the company needs to get it through these troubled times. If that is the case - and if you go through the pain of a divi reduction you may as well get it right first time - then it's very good news indeed! |
Posted at 06/7/2008 07:23 by maxk From The Sunday TimesJuly 6, 2008 Alliance and Leicester aims to save £80m on dividend Iain Dey ALLIANCE & LEICESTER is plotting a savage dividend cut to shore up its finances in a move expected to save the mortgage bank about £80m a year. Its shares plunged 12% on Friday in reaction to the emergency bail-out that Bradford & Bingley was forced to agree with four of its biggest shareholders. A&L is widely acknowledged to be in a more secure position than its troubled rival. It has a more conservative mortgage book, but it is being crippled by higher funding costs. The bank secured its funding to April 2009 thanks to an expensive loan deal with Credit Suisse. David Bennett, the chief executive, is said to have begun considering a dividend cut shortly after the bank revealed its full-year results in February. Although no final decision has been taken, the move could be announced in three weeks, when the bank reveals its interim results. A&L shares are trading on a dividend yield of 20%. A cut from the present total dividend of 55.3p per share to about 35p would bring the ratio back to a normal level. The shares closed on Friday at 255p. |
Posted at 21/4/2008 15:29 by buywell2 Likewise for the UK ?Citigroup May End Dividend After Losses, Whitney Says (Update2) By Allen Wan April 21 (Bloomberg) -- Citigroup Inc., the biggest U.S. bank by assets, may cut or eliminate its dividend as losses escalate this year, Oppenheimer & Co.'s Meredith Whitney said. The analyst tripled her 2008 loss estimate to 45 cents a share and reduced her 2009 profit estimate to 90 cents a share from $2.50. New York-based Whitney in October correctly predicted two months in advance that Citigroup would slash its dividend to preserve capital. ``The company has seriously constrained earnings power,'' she wrote in a report today. This may force Citigroup to ``seek additional capital from outside investors.'' Banks, brokerages and insurance companies have led the Standard & Poor's 500 Index's decline from an October record as the deterioration in housing that sparked $288 billion in credit losses and asset writedowns pushes the economy to the brink of recession. Financial companies in the S&P 500 that reported first-quarter results had an average profit decline of 85 percent from a year earlier, the biggest drop among 10 industries, according to data compiled by Bloomberg last week. Citigroup posted a $5.11 billion first-quarter loss on April 18, less than analysts' most pessimistic estimates, and cut 9,000 jobs. The New York-based bank currently pays a 32-cent quarterly dividend. Last year, the quarterly payout was 54 cents. Citigroup shares lost 20 cents to $24.91 at 9:03 a.m. in New York. $369 Billion Whitney said Oct. 31 that Citigroup would have to reduce its dividend to preserve capital, erasing $369 billion in U.S. stock market value the next day. Citigroup went on to decline as much as 56 percent in New York Stock Exchange composite trading through March 17. Mounting losses forced Citigroup to raise $30.4 billion from investors including funds run by Singapore and Kuwait. Bank of America Corp., the second-largest U.S. bank by assets, said today profit dropped for a third straight quarter as the company set aside $6.01 billion for bad loans. The stock retreated 33 cents to $38.23. Whitney also predicted today that Wells Fargo & Co., the biggest West Coast bank, may have to fund a $4.5 billion shortfall in reserves. Wells Fargo shares lost 60 cents to $29.80. |
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