Legal & General Share Discussion Threads

[netcurtains] 18/9/2024 06:29

Nice lot of cash

[grahamg8] 18/9/2024 06:26

Proceeds are roughly 10% of the mcap. If enough goes into a buy back then it might move the sp, although I'm not convinced. If the idea is to pump up the share price then a cut in dividends is hardly on the cards. Plenty of cash sloshing round should ensure the divi is safe for now.

[skinny] 18/9/2024 06:02

Legal & General Group Plc ("Legal & General" or "L&G" or the "Group") today announces that it has agreed the sale of the UK house builder CALA Group ("Cala") for an enterprise value of £1.35bn, to Ferguson Bidco Limited, an entity owned by funds managed by Sixth Street Partners and Patron Capital.

The consideration for the sale will result in cash proceeds of £1.16bn (after adjustment for net debt), of which c£500m will be paid at closing with the remaining consideration being paid over the next five years on a deferred non-contingent basis. As at HY24, Cala had a Net Asset Value of £1.15bn and generated operating profits of £42m.

The disposal reflects L&G's disciplined approach to capital allocation and follows the Group's decision to create a Corporate Investments Unit as outlined at the Capital Markets Event ("CME") in June 2024.

Disposal proceeds from the sale will primarily be used, as they become available, to reinvest in the Group in line with our strategy and the capital allocation framework set out at the CME. The Board will also consider the proceeds as part of the Group's announced intention to increase returns to shareholders through ongoing buybacks. As signalled, the sale of Cala reduces the Group's Solvency Capital Requirement (SCR) by c£100m after diversification.

The transaction is expected to complete in Q4 2024.

[skinny] 17/9/2024 10:53

That chart looks familiar!

[adejuk] 17/9/2024 10:48

so long as the divi is maaintained who cares about share price fluctuations providing they stay within reason.

[fionascott1234] 17/9/2024 09:03

It suits me for it to be low prior to the scrip dividend award.

[netcurtains] 17/9/2024 08:40

Of the big divi finance stocks LGEN appears to have the most room for heading NORTH (its at the bottom if you ignore ABDN)

[tornado12] 17/9/2024 08:15

About time this share was out of the 220s and back to 240s.....I see no reason for this lowly valuation.... hoping the push down in interest rates will give us a tail wind plus the sale of Carla homes... How they use this income will be interesting ...GLA

[geckotheglorious] 16/9/2024 12:18

Thamestrader.

I have zero interest in a British ISA.
Prefer to be able to invest in the companies of the world. So many superior offerings.

[gilesy911] 16/9/2024 08:14

Lots of news this weekUK Inflation Report and US Interest rates on Wednesday and UK Interest rate on Thursday

[theinquisitiveone] 15/9/2024 21:12

Hi

The "phantom" serial downticker is none other than Neilyb675

[denziiil] 15/9/2024 19:54

Ha ive been waiting for the phantom downticker to reveal themselves.

[tornado12] 15/9/2024 15:57

I think the sale of Cala homes can support the main core operations. A lot depends on how the new CEO will use the cash. How he deals with this will be another test in his strategy and leadership GLA

[pvb] 15/9/2024 14:47

:-)

Perhaps the phantom down ticker has a sense of humour?

PS. Clearly he doesn't.

LOL

[rongetsrich] 15/9/2024 14:09

Who has down ticked this?

[bargainsniper] 15/9/2024 12:38

Legal & General will this week pick a new home for Cala Group, its housebuilding subsidiary.Https://news.sky.com/story/legal-general-to-pick-new-home-for-16312bn-housebuilder-cala-this-week-13215482?utm_source=upday&utm_medium=referral

[netcurtains] 15/9/2024 10:01

Ways the Labour Government could raise some cash:

a) Tax NEW ISA stocks and shares that are not in the FTSE (eg small investors who are making California rich not the UK).
b) Decrease interest rates thus lowering NS&I rate and premium bond payout

[netcurtains] 15/9/2024 06:57

Norry2: I suspect 50% of time time you make money buying just before the ex-dividend date (as per my buy of MNG recently) as the fall is smaller than the dividend and general market sentiment is in favour of buying into large dividend companies...
Thus many buy when it goes ex-dividend forcing the price up again.....

But of course the flip side is also true...... There is alas, no magic formula.

[norry2] 15/9/2024 06:35

Roughly speaking, shares drop by the amount of the dividend when they go xd. They then (sort of) gradually increase by the expected next dividend amount before the next xd. Of course this gets mixed up by all the general market movements.

[1robbob] 14/9/2024 17:15

We will have to agree to differ.
...... How can you 'accumulate' a dividend that has not been announced/declared

[yf23_1] 13/9/2024 20:43

Day by day they are accumulate in the SP, so come xd they get taken off.

[1robbob] 13/9/2024 18:12

yf23_1
Dividends do not accrue

[yf23_1] 12/9/2024 16:21

Yes, and it should actually rise a teeny bit more than FTSE due to the accruing higher dividend.
:(

[skinny] 12/9/2024 15:57

Not quite +0.54% compared to +0.57% for the FTSE :-)