The CEO and board can do what they like, as long as the shareholder returns keep coming. Having seen a gain of 18% on my SIPP buy, I have halved the holding as it is looking toppy now. Plus I am well into LGEN and PHNX so too much asset allocated to insurance industry. I can see these latter two rising a bit but not this. |
I'm very disappointed in you, bodhi! I thought you were one of us. Now you've turned all woke, worrying about discrimination in the workplace. I'm with Gekko here. You can have all the "discrimination" you like so long as you deliver on the bottom line, that's what I say. We're supposed to be tough men not crybabies, don't forget. All power to her elbow. |
Agree wholeheartedly with your first para.
A shame you spoiled it with your second - leaves me wondering whether the right prospective senior execs will get the nod. |
Well done Amanda Blanc. Without doubt she is amongst the top 3 CEOs in the FTSE 100. Some insecure men called her woke for insisting on personally vetting ALL senior appointments. I've run a large successful company too and by golly I insisted on approving all such candidates.
BTW there is only one certain, defensible definition of the silly word "woke": "not agreeing with my misguided, inadequate, view of the world" |
Nice start to the day. Pity I sold yesterday:) |
Shocked to see my car insurance policy with QuoteMeHappy drop from £576 to £530. Terrible customer service (try getting hold of them for a windscreen claim) but they seem to be the cheapest. |
Legal & General announces £500m share buyback as annual profits rise. |
Decent clime this morning in an uncertain market. States look like opening positive. |
 I shall be sorry to see the prefs go. I have held them for ages and with so many companies going for buy backs at the expense of dividends they have provided a welcome reliable income stream.
By a stroke of good fortune I topped up the holding substantially last year in expectation of further interest rate cuts, so overall I shall make quite a decent capital profit.
The problem will be to find a safe, reasonably priced, like for like replacement. It looks as though prefs will soon be a thing of the past! That only adds to the reinvestment problem. I certainly don't want to buy alternative prefs at an inflated price (and thus lower dividend running yield) reflecting a hope of cancellation at a premium and for that not to happen.
The wife held RSA prefs and bought Standard Chartered prefs with the proceeds of those when they were cancelled but ever since the Bank of Scotland fiasco I have been a bit leery of investing in banks within the 'boring but safe'element of my portfolio. Maybe a bond investment trust is the answer. Or even some IL gilts if Rachel from accounts does a Truss! Inflation is always a concern with fixed interest. |
Bought back some @523.5 |
They were paying about 8% about a couple of years ago, at the actual market price then.
They've been a nice, dull little earner for me, much steadier than my ordinary shares.
RSA bought back a pref too last year.
I think once they are no longer counted as regulatory Tier 1 capital (after ~six years?) it makes sense to buy them back. |
8%+ is the coupon at par (ie at issue) not current market price
At the Tender Offer price the yield is circa 5.8% |
Blimey. Which prefs are paying over 8%, I want some of those!! |
Pref shares are paying over 8% . Actually makes sense |
AV has this morning announced a Tender Offer for all its outstanding Preference Shares |
States Naz taking a beating . Av showing resilience thankfully |
Trump is a menace (to Aviva) there back on topic ;) |
Guys on topic please.
spud |
Got it in one Skinny.
Trump given a hospital pass by Biden Admin.
Most dont realise how bad the US financial situation is. |
1robbob
How is cutting wasteful spending largesse??
Stream lining govt, cutting overpaid inefficient employees isnt largesse.
What is largesse is the Biden $1trillion debt spending every 100 days which the new Admin are trying to overturn!!!
That is largesse.
$1trillion every 100 days in spending financed by debt to keep the economy afloat. |
Markets will put and end to Trump's largess...just as they did for La Truss |
From the article above:-
"The companies, which provide pensions to millions of Britons, say the restrictions apply to select funds and offer customers choice"
No conflict, no lefties or right wingers. No Russians or anti-Russians.
Just a simple customer choice on where they would like to invest.
NMRN |
When reposting press comment/articles it would be useful if the source could be quoted |
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