Lloyds Banking Dividends - LLOY

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Stock Name	Stock Symbol	Market	Stock Type	Stock ISIN	Stock Description
Lloyds Banking Group Plc	LLOY	London	Ordinary Share	GB0008706128	ORD 10P

	Price Change	Price Change %	Stock Price	High Price	Low Price	Open Price	Close Price	Last Trade
	-0.99	-1.7%	57.10	57.79	56.91	57.20	58.09	13:21:37

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Industry Sector
BANKS

Lloyds Banking LLOY Dividends History

Announcement Date	Type	Currency	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
31/07/2019	Interim	GBX	1.12	31/12/2018	31/12/2019	08/08/2019	09/08/2019	13/09/2019	0
20/02/2019	Final	GBX	2.14	31/12/2017	31/12/2018	04/04/2019	05/04/2019	21/05/2019	3.21
01/08/2018	Interim	GBX	1.07	31/12/2017	31/12/2018	16/08/2018	17/08/2018	26/09/2018	0
21/02/2018	Final	GBX	2.05	31/12/2016	31/12/2017	19/04/2018	20/04/2018	29/05/2018	3.05
27/07/2017	Interim	GBX	1	31/12/2016	31/12/2017	10/08/2017	11/08/2017	27/09/2017	0
22/02/2017	Special	GBX	0.5	31/12/2015	31/12/2016	06/04/2017	07/04/2017	16/05/2017	0
22/02/2017	Final	GBX	1.7	31/12/2015	31/12/2016	06/04/2017	07/04/2017	16/05/2017	3.05
28/07/2016	Interim	GBX	0.85	31/12/2015	31/12/2016	11/08/2016	12/08/2016	28/09/2016	0
25/02/2016	Final	GBX	1.5	31/12/2014	31/12/2015	07/04/2016	08/04/2016	17/05/2016	2.75
25/02/2016	Special	GBX	0.5	31/12/2014	31/12/2015	07/04/2016	08/04/2016	17/05/2016	0
31/07/2015	Interim	GBX	0.75	30/12/2014	30/06/2015	13/08/2015	14/08/2015	28/09/2015	0
27/02/2015	Final	GBX	0.75	31/12/2013	31/12/2014	02/04/2015	07/04/2015	19/05/2015	0.75
26/02/2010	Final	GBX	0	31/12/2008	31/12/2009	01/01/1970	01/01/1970	01/01/1970	0
27/02/2009	Final	GBX	0	31/12/2007	31/12/2008	01/01/1970	01/01/1970	01/01/1970	11.4
06/05/2008	Interim	GBX	11.4	30/12/2007	30/06/2008	06/08/2008	08/08/2008	01/10/2008	11.4
22/02/2008	Final	GBX	24.7	31/12/2006	31/12/2007	05/03/2008	07/03/2008	07/05/2008	35.9
31/07/2007	Interim	GBX	11.2	30/12/2006	30/06/2007	08/08/2007	10/08/2007	03/10/2007	0
25/02/2007	Final	GBX	23.5	31/12/2005	31/12/2006	07/03/2007	09/03/2007	02/05/2007	34.2
02/08/2006	Interim	GBX	10.7	30/12/2005	30/06/2006	09/08/2006	11/08/2006	04/10/2006	0
24/02/2006	Final	GBX	23.5	31/12/2004	31/12/2005	08/03/2006	10/03/2006	03/05/2006	34.2
29/07/2005	Interim	GBX	10.7	30/12/2004	30/06/2005	10/08/2005	12/08/2005	05/10/2005	0
04/03/2005	Final	GBX	23.5	31/12/2003	31/12/2004	16/03/2005	18/03/2005	04/05/2005	34.2
30/07/2004	Interim	GBX	10.7	30/12/2003	30/06/2004	11/08/2004	13/08/2004	06/10/2004	0
08/03/2004	Final	GBX	23.5	29/12/2002	29/12/2003	17/03/2004	19/03/2004	05/05/2004	34.2
31/07/2003	Interim	GBX	10.7	30/12/2002	30/06/2003	13/08/2003	15/08/2003	08/10/2003	0
14/02/2003	Final	GBX	23.5	31/12/2001	31/12/2002	26/02/2003	28/02/2003	07/05/2003	34.2
02/08/2002	Interim	GBX	10.7	30/12/2001	30/06/2002	14/08/2002	16/08/2002	09/10/2002	0
15/02/2002	Final	GBX	23.5	31/12/2000	31/12/2001	27/02/2002	01/03/2002	01/05/2002	33.7
27/07/2001	Interim	GBX	10.2	30/12/2000	30/06/2001	08/08/2001	10/08/2001	10/10/2001	0
16/02/2001	Final	GBX	21.3	31/12/1999	31/12/2000	28/02/2001	02/03/2001	02/05/2001	30.6
28/07/2000	Interim	GBX	9.3	30/12/1999	30/06/2000	07/08/2000	11/08/2000	11/10/2000	0
11/02/2000	Final	GBX	18.5	31/12/1998	31/12/1999	21/02/2000	25/02/2000	03/05/2000	26.6
30/07/1999	Interim	GBX	8.1	30/12/1998	30/06/1999	09/08/1999	13/08/1999	13/10/1999	0
12/02/1999	Final	GBX	15.5	31/12/1997	31/12/1998	22/02/1999	26/02/1999	05/05/1999	22.2
31/07/1998	Interim	GBX	6.7	30/12/1997	30/06/1998	10/08/1998	14/08/1998	09/10/1998	0
13/02/1998	Final	GBX	11.9	31/12/1996	31/12/1997	23/02/1998	27/02/1998	01/05/1998	17.2

Top Dividend Posts

Date	Subject
19/1/2020 11:27	xtrmntr: My colleague Royston Wild has examined the perils that might face Royal Bank of Scotland in the event of a post-Brexit slowdown, and I'd say he's pretty much on the money all round.The same is true for Lloyds Banking Group (LSE: LLOY). Despite a couple of blips upwards, Lloyds shares are down 22% over the past five years, and now find themselves languishing on a prospective P/E multiple of only a little over eight.The revelation by the Office for National Statistics (ONS) that the UK economy shrank by 0.3% in November is not a good sign as we head into 2020. Had it been just a rogue month, I wouldn't be concerned, but the ONS went on to say the economy is continuing to slow over the long term.Talk of an interest rate cut is adding to the pessimism, as is Bank of England (BoE) governor Mark Carney's suggestion that we might need some near-term stimulus.BrexitLloyds has no real European business to lose after having refocused itself as a UK-centric retail bank. But the saving from that one risk opens it up very much to the risks from the UK economy. While a bank with international operations can more easily withstand a downturn in an individual economy, Lloyds could be badly hurt by a UK slump.The bank has progressed well since the financial crisis, with a much healthier balance sheet and the ability to easily pass the BoE's stress tests - it came through the last one in December nicely ahead of the required benchmarks. But it's really open to a slowdown in UK demand, weakness in the mortgage market, and any accumulation of bad debts.Yield and coverThe Lloyds dividend is expected to yield 5.6% this year, and it would be covered 2.1 times by earnings - and I'm happily pocketing my dividend cash each year.But the rapid earnings growth of recent years is set to come to an end with a couple of flat years, though analysts are expecting the progressive dividend to keep growing. That would lift the yield to 6.1% by 2021, but would drop cover to 1.9 times - not a huge worry, but I don't like to see things like dividend cover going in the wrong direction.Still, saying all of that, I still think Lloyds is a buy at today's valuation... providing we don't crash out of the EU with no trade deal.Deal or no-deal?Will Boris go back on his word and agree an extension if 11 months isn't long enough (which it really doesn't seem to be)? We really do need a good trade deal to avoid an economic disaster, and that's the thing I think could give Lloyds a boost.I see much of the Brexit pessimism already built into the Lloyds share price, and I reckon that P/E of eight is way too low for a post-EU trade deal situation. Should we get a deal, I can see a P/E of 10 to 12 coming soon after, suggesting a share price of between 70p and 84p.Dividend yields would be around 4-5%, which seems about right, long term, for a bank. Read Full Thread Follow Reply
31/10/2019 18:12	jordaggy: City Index... Last-minute PPI sting won’t be fatal for pay-out plans As it was for Lloyds Banking Group’s main rivals, the tail of the PPI saga had a sharper sting than expected. Charges related to remediation costs for the two-decade long insurance mis-selling issue amounted to £1.80bn in Q3, against £1.67bn expected by analysts. The harsher than forecast hit partly reflects a last-minute gush of compensation claims that brought Lloyds' buyback plans to an abrupt halt in September. The group is arguably the best-defended and best-positioned bank focused on the UK for revenues. Yet it is just as hemmed in by economic challenges as peers. Consequently, substantially accelerated growth remains a distant goal. Shareholders have thereby been more focused on capital growth and prospective returns to assess their investment in recent years. So even the hint of a risk to expected higher dividends and share buybacks can be a big deal, particularly with PPI impact also consuming profit targets for the year. (The trading statement didn’t update the bank’s view on its Return on Tangible Equity goal for 2019). Still, such concerns have been reflected in contained fashion by share price moves in Lloyds (LON:LLOY) stock on Thursday. It retreated by somewhat less than 3% at worst and curbed the loss to about 2% by late morning. Despite Q3 upsets, the buffer of capital Lloyds is obliged to hold as a ratio of total assets improved by a satisfactory extent in Q3. Common Equity Tier 1 Capital stood at 13.5% by quarter end, “in line with the board’s target”. As such, management emits no change to dividend plans and “will give due consideration to the return of any surplus capital at the year end.” Meanwhile, “never say never”, the advice on PPI offered by Lloyds’ previous CEO, remains wise, though post-deadline, claim volumes will continue to decline. Q3 2019 is yet another quarter Lloyds (LON:LLOY) investors would prefer to forget and that’s reflected in a ten percentage-point share price drop over the last ten days. Still, a firm net interest margin emerged as one of the few high points of the quarter at 2.88% vs. 2.87% expected. Cost control also remained in hand. Lloyds is not compounding past mistakes with new missteps. Chart points Over-arching pressure on the shares that could erode more of LLOY’s remaining 9% rise this year should continue, according to technical analysis. The decline since May 2015 is now well established: see the well-corroborated falling trend line since then that was last tagged in mid-October. The 200-week moving average reinforces trend line resistance given that mid-October also featured another failed attempt to get above the 200-WMA, the latest of many rejections in recent years. So long as overhead structures remain intact, objectives will continue to point towards December 2018’s base at 49.53p, and 2019’s 48.2p low from August. These floors are in within reasonable range of June 2016’s post-referendum lows as deep as 46p. Lloyds Banking Group PLC (LON:LLOY). CFD – Weekly Read Full Thread Follow Reply
14/7/2019 08:06	sarkasm: THE MOTELY FOOL Have I missed something? Could the Lloyds share price be heading to 30p? Rupert Hargreaves \| Sunday, 14th July, 2019 \| More on: LLOY Close-up Of Wooden Blocks With Risk Word In Front Of Businessperson's Hand Holding Magnifying Glass Image source: Getty Images Whenever I’ve covered the Lloyds (LSE: LLOY) share price in the past, I’ve always concluded that the bank has a bright outlook. Its robust capital position, combined with an attractive valuation and market-beating dividend yield, are qualities that appeal to me as an investor. However, for some reason, the market continues to view the business with scepticism. So here I’m going to try and establish if there’s something I’m missing here, and if the bank is really worth much less than its current value. Economic concerns As Lloyds is one of the largest banks in the UK and the largest mortgage lender, its fortunes are tied to the prosperity of the country’s economy. This turned out to be the bank’s undoing in 2007/08 when the global financial crisis took bankers by surprise. Lloyds found itself struggling to survive as losses mounted and had to ask the government for a bailout. Even though the firm has come along way since those dark days, there’s still a chance it could come close to collapse at some point again in future. The possibility is relatively small, but it’s still there. A substantial decline in home prices due to economic recession could leave Lloyds nursing huge losses. Regular stress tests conducted by the Bank of England and other regulators show Lloyds is unlikely to need another government bailout. But, in the worst case scenario, the bank might have to raise additional capital from investors and its dividend will almost certainly be eliminated. Looking back, the UK economy has suffered a substantial economic decline roughly once every 10 years. On that basis, we are overdue a contraction. I think this is probably the most significant risk overhanging the Lloyds share price today. We don’t know when the next economic downturn will arrive or the effect it will have on the bank when it does. One thing we do know is that the bank’s income will fall as the Bank of England will likely reduce interest rates to stimulate economic growth and loan losses will rise in a recession. Further to fall? If the Bank of England reduces interest rates to zero, Lloyds’ growth will evaporate, and a good deal of its earnings will disappear as well. If you assume earnings fall by 50% from current levels back to 2016’s 2.9p per share, I think the stock could fall as far as 30p. That’s assuming a multiple of 10 times earnings, which is slightly above what the stock is trading at the moment. That’s the bear argument for the Lloyds share price, and while I don’t think the UK economy will collapse into severe recession anytime soon, I think it’s always worth considering the worst case scenario for any investment. In the meantime, Lloyds remains, in my opinion, an attractive income stock with its dividend yield of 6% and an attractive valuation of just 7.4 times forward earnings. Read Full Thread Follow Reply
01/7/2019 16:47	waldron: invezz Lloyds share price steady as Jefferies remains bullish Tsveta Zikolova Tsveta Zikolova July 1, 2019 2 min read Share this article! Lloyds Banking Group’s (LON:LLOY) share price has advanced in London in today’s session as Jefferies reaffirmed its bullish rating on the bailed-out lender. Proactive Investors reports that a survey by the broker has revealed that mortgage pricing remains relatively stable, with Lloyds offering the lowest rates. As of 14:18 BST, Lloyds’ share price had climbed 1.18 percent higher to 57.27p as of 14:18 BST, largely in line with gains in the broader UK market, with the benchmark FTSE 100 index currently standing 1.32 percent higher at 7,523.47 points. The group’s shares have given up just under 10 percent of their value over the past year, as compared with about a 1.5-percent fall in the Footsie. Jefferies sees Lloyds as ‘buy’ Jefferies reaffirmed the London-listed lender as a ‘buy’ today, with a target of 99p on Lloyds’ share price. Proactive Investors quoted the broker as commenting that a recent meeting with the bailed-out lender’s chief financial officer had suggested that the bank was maintaining its volume weighted pricing at or higher than the market. The broker, however, reckons that the FTSE 100 group is targeting certain channels such as the remortgage market where pricing is more competitive. Jefferies noted that Lloyds should continue to ‘tick the boxes’ on stability of capital and net interest margin, with the likely ‘controversial aspect’ being management’s guidance for flat other income in 2019. The analysts meanwhile do not expect the bailed-out lender’s first-half results to act as a catalyst for the shares. Mortgage market update Proactive Investors further reported that Jefferies’ survey has revealed that Lloyds offers the lowest mortgage rates in the UK. “Lloyds screens optically as more aggressive on pricing (having spent most of 2018 and 2017 in the middle of the pack), at the bottom of the banks we surveyed for lower loan to value (LTV) products (conversely, it appears that the group has priced itself out of the market for high LTV products),” the broker pointed out. RBC recently maintained its ‘outperform217; rating on the bailed-out lender, arguing that the company was the most capital generative of the UK banks and offers a consistent dividend yield of 11 percent. According to MarketBeat, the FTSE 100 group currently has a consensus ‘buy’ rating, while the average target on Lloyds’ share price stands at 70.69p. Read Full Thread Follow Reply
10/6/2019 11:50	jordaggy: Credit to Bernie: bernie3710 Jun '19 - 11:52 - 130913 of 130913 0 0 0 APR 2019 Barclays vs Lloyds Barclays and Lloyds are the key banks in the UK sector and despite some similarities there is also glaring differences. I often get asked by clients, which is the better of the two? One is the “boring” but steady and the other is “exciting̶1;,but can also be unstable. In this report I have looked at the pair and drawn up some key comparisons. Both have caused investors huge frustrations over recent years but both for very different reasons. Barclays Plc (BARC) Yield 4.32% Identity Crisis There’s no doubting that Barclays has some great businesses when you scratch the surface. It is of course one of the UK’s big four banks with over 23 million customers. It’s also the UK’s leading issuer of credit cards, the leading stockbroker, a leading wealth manager and has a leading investment bank. It is fair to say that Barclays is not the global bank it once was. With the exception of the US, it has largely retreated from foreign markets. Only a few years ago it had major operations in Europe and Africa in particular, but these have been sold off. What we have left is a UK-US focused bank. Expansion is no longer the name of the game. Today it’s all about profits and dividends. Prized Asset One thing that sets Barclays apart from the UK’s other big four banks is its large and sometimes successful investment bank. Investment banking is seen as the riskier but more lucrative cousin of retail banking. Instead of mortgages and current accounts, it involves things like advice on takeovers, raising debt and equity for large corporations and trading of bonds and shares. Barclays is the only British bank to make serious headway in investment banking, boosted by its opportunistic buy of Lehman Brothers core business during the financial crisis. This gave Barclays a leg up to compete with Wall Street’s titans such as Goldman Sachs and Morgan Stanley. Becoming a major player has not come easy or cheap, so it’s understandable why Barclays is reluctant to part with one of its best assets, even if it is unfashionable. While investment banking adds extra volatility to earnings it can also generate mega-money in good times – on a scale that retail banking can never do. While investment banking adds extra volatility to earnings it can also generate mega-money in good times, on a scale that retail banking can never do. And those worried about another financial crisis should note that Barclays has been the first of the major British banks to successfully ring-fence its UK retail operations. The Revolving Door Shareholders like stable leadership and a clear strategy, which is fair enough, but in the last decade, Barclays has provided neither. Barclays vs Lloyds 01 www.atlanticmarkets.co.uk Since 2011, Barclays has had four different CEOs. The principal reason for the high turnover of CEOs has been a continuous series of scandals. As we know, whenever there is a big scandal, the media and politicians call for someone’s head, and in Barclay’s case, that’s been the CEO. Even the current CEO, Jes Staley, has been lucky to survive several scandals. As you’d expect, every CEO has had his own vision for Barclays and has set about making it happen, only to be replaced before he gets the job done. The new guy has then come in and taken the bank in a different direction. While there are no guarantees the present CEO will be around for the long-term, the hope is that the Board of Directors understands that the share price has been hampered by the lack of continuity, so will endeavour to create more stable leadership. Even if it has yet to be rewarded, the new strategy for Barclays seems a lot less complicated. A focus on transatlantic operations will be much easier to understand and manage. We’ve noted that Barclays is now taking a leaf out of Lloyd’s book and continuously using the words simple and straightforward. I don’t think Barclays will ever be a simple as Lloyds, but nor should it try to be. It’s got a better spread of assets and products. You can’t be simple and diversified at the same time. Lloyds Bank (LLOY) Yield 6.19% Lloyds is back to doing what it does best – current accounts, mortgages, personal and business loans, life insurance...sound dull? Thank goodness. Fund managers in the City used to mockingly call Lloyds “the world’s most boring bank”, who knew that would become a compliment. It’s taken many years for Lloyds to recover from the financial crisis, not only financially, but also on a reputational level. As we know, Lloyds made a near fatal error when it bought HBOS in the thick of the fog back in 2008. In the four years that followed, the HBOS side of the business would incur a mammoth £45 billion of loan impairments in addition to £10 billion from the Lloyds side. It was enough to bring any financial institution to its knees and Lloyds was forced into a £20 billion government bailout. The UKs First ‘SuperbankR17; Bailout aside, the purchase of HBOS propelled Lloyds to become the UK’s first ‘super bank’. Bear in mind, if the acquisition had taken place in ordinary times, such a major move would have faced tremendous opposition and likely to have been blocked altogether by competition regulators. Together, the two banks had relationships with four out of ten consumers. The timing of the deal was terrible, but the cost savings have been tremendous. The initial aim was to achieve a target of £1 billion of annual cost savings, but it wasn’t long before this was revised up to £1.5 billion, then to over £2 billion. Road to Recovery Lloyds continues to make progress with a strong start to the Group’s latest strategic plan and the planned integration of Zurich and MBNA and launch of Lloyds Bank Corporate Markets all Barclays vs Lloyds 02 www.atlanticmarkets.co.uk going to plan. The biggest appeal for the potential share buyer is the recent increase to the interim ordinary dividend. This and the overall Improved guidance offer investors some respite and positivity to look forward to. One thing that Lloyds has long been known for is its ability to keep a tight rein on costs, and that’s where a lot of the profit improvement is coming from. Lloyds has the lowest cost base of the big four banks. It also has a very strong capital position, more than double the minimum allowable level. What’s more, Lloyds has no net reliance on wholesale funding – meaning it’s self-funded. PPI Pay-outs The total PPI provisions for Lloyds now stands at a staggering £19.4bn since 2011. The compensation payments have been so vast that the Financial Times mockingly referred to Lloyds as “a cash dispenser to the people”. On the bright side, it’s a big achievement that Lloyds’ has been able to pay out billions in compensation and not only survive, but resume making good profits. Given the strength of the underlying business, it shouldn’t be too long before Lloyds switches over to being a cash dispenser to its shareholders. How They Compare Lloyds is a better run business with a far superior cost to income ratio. It is also safer with a substantially higher capital ratio. It offers investors an attractive and growing dividend yield at a modest forecast PE ratio. While its business has a narrow focus, it is the UK’s most straightforward bank. In short, it’s an income play with good upside potential. The net asset value per share is not so appealing to investors compared to Barclays. Lloyds NAV (exc intangibles) is 55.51p compared to Barclays far more appealing 318.58p. Barclays has a lot of catching up to do. Its costs are way too high, and its capital could do with a boost. Both of these points are being addressed. The recent dividend increases are now appealing to the income investor, but this has weighed on the company’s overall dividend cover. Barclays dividend cover is 1.45 compared to a healthier cover for Lloyds at 1.71. The biggest attraction of Barclays is its deep discount to net assets. The dividend cover does also offer investors the comfort. There’s a lot of potential upside that could be unlocked if the management team can run the business in a cohesive and consistent manner. For investors prepared to take a longer view, Barclays is a bargain. Barclays vs Lloyds 03 Read Full Thread Follow Reply
04/5/2019 18:38	grupo: www.ii.co.uk/analysis-commentary/lloyds-banking-group-q1-results-analysis-ii508171 Lloyds Banking Group: Q1 results analysis by Graeme Evans from interactive investor \| 2nd May 2019 12:19 After a stunning share price performance, do these 'hit and miss' results justify optimism? Lloyds Banking Group (LSE:LLOY) investors, in need of a silver lining after an underwhelming earnings season from UK lenders, only have to look back 24 hours to the surprise gift handed to the bank by regulators yesterday. Analysts think the decision by the Prudential Regulation Authority (PRA) allowing Lloyds to reduce its risk buffer has the potential to increase the capacity for share buy-backs by £1 billion in 2019. Investec Securities' Ian Gordon called it "just the tonic" ahead of today's first-quarter results. As it turned out, the news helped to soften the blow of today's figures as Lloyds mirrored the disappointing top-line performances already seen by Barclays (LSE:BARC) and The Royal Bank of Scotland Group (LSE:RBS). Adjusted revenues were 4% below market consensus at £4.4 billion, while unchanged pre-tax profits of £1.6 billion also came in slightly below hopes. Remarkably, the seemingly never-ending payment protection insurance (PPI) compensation story continues to hang over Lloyds' numbers after the bank set aside another £100 million in today's results. The softer income performance has been seen across the UK banking sector at the start of 2019, contributing to the slow pace in the recovery of Lloyds shares from the 50p low in December. Fierce competition and low interest rates continue to put pressure on margins in the mortgage market while Brexit uncertainty is hampering business investment. Lloyds appears to be weathering the storm, however, after today's net interest margin fell just one basis point on the previous quarter to 2.91%. Last Friday, RBS said its margin fell to 1.89% from 1.95%. There was also praise for the bank's performance on driving down operating expenses after its cost:income ratio showed further improvement at 44.7%. Credit quality is also strong, with the impairment provision of £275 million only slightly higher than the previous quarter. While chief executive António Horta-Osório remains alert to the economic impact of Brexit, he offered a measure of reassurance today by sticking to the group's targets for 2019. These include maintaining the net interest margin at 2.9% and delivering operating costs of below £8 billion as Lloyds seeks a cost:income ratio in the low 40s by next year. Lloyds is also eyeing a return on equity figure of between 14% and 15% in 2019, compared with 12.5% in the current quarter. The tight control of the business has already enabled a share buyback of £1.75 billion, alongside a dividend yield of above 5%. Source: TradingView Past performance is not a guide to future performance Yesterday's announcement from the PRA on the systemic risk buffer requirement for UK's ring-fenced banks should give Lloyds more room to move in terms of future shareholder returns. Lloyds now thinks the current level of capital required to grow the business as well as meet regulatory requirements and cover uncertainties has reduced from around 13% to 12.5%, plus a management buffer of around 1%. It pointed out it had a "progressive and sustainable ordinary dividend policy" and that it would continue to give consideration to the distribution of surplus capital at the end of the year. UBS analyst Jason Napier thinks the PRA news has increased the 2019 pay-out capacity by £1 billion or 2.5% of market cap. When added to Lloyds' own capital generation target, this amounts to the potential for total pay-outs of 10% of market cap for 2019. He continues to have a price target of 80p on Lloyds, while also backing Barclays and RBS as his other 'buy' recommendations in UK banking. Napier, who values Lloyds at 7.1 times 2020 earnings, said: "We think the stock is good value in absolute and relative terms despite the lower Q1 print." These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article. Read Full Thread Follow Reply
21/4/2019 08:39	florenceorbis: One ‘hidden’ reason I think Lloyds Banking Group shares could disappoint Kevin Godbold \| Sunday, 21st April, 2019 \| More on: View of Canary Wharf Image source: Getty Images. There’s no shortage of bullish opinions about Lloyds Banking Group (LSE: LLOY) and one of the main arguments is that the valuation looks cheap. The dividend yield is high and, to many commentators, the bank looks like it’s poised for recovery after many troubled years since the financial crisis. However, Foolish writer Martin Bodenham punched out an article recently that added to my bearishness about Lloyds and which made me think about a ‘hidden’ reason for avoiding the shares. His article bore the headline ‘Why dividend yields don’t matter to me’ and he made a good argument for targeting total investor returns over dividend income. Two steps forward, two back Let’s face it, if you look at Lloyds’ history over the past few years total returns have taken a bashing from that wiggly share price. It looks like a strong case of two steps forward with dividend income only to have your gains wiped out later by two steps back with the share price. But when searching for potential investments, Martin considers the most important indicator to be Return on Capital (ROC) and not the dividend yield at all. His reasoning is compelling. When talking about any company, he said: “There is no better measure to demonstrate the effectiveness of its leadership team in exploiting the business’s competitive position in the market.” Indeed, a high ROC figure can lead to strong performance from a share price even though a firm’s dividend yield may be low. Instead of paying cash back to shareholders, many firms with a high ROC plough money back into their businesses to make the most of their opportunities for growth. One thing that screams out to me about Lloyds is its poor showing on all the traditional quality indicators. One popular share screening website has the ROC running at just 0.75% and the Return on Equity at 8%. The operating margin looks better at around 21%, but the bank has had to build that up from almost zero in 2013, which is another sign of the fragility of the underlying business, in my view. Commodity-style, cyclical outfits Banks tend to be highly financially geared. They have to be to turn any kind of worthwhile profit. But they are also cyclical and lacking in any meaningful competitive advantages over their peers. Banks such as Lloyds are commodity-style outfits and profitable operations depend on a number of economic variables. If we see a half-decent general economic slump at some point, my guess is that Lloyds profits, the dividend, and the shares will all plunge. And that’s what I reckon the stock market as a whole is worried about with Lloyds. After a long period of strong profits from the firm, I reckon the market is pegging and shrinking the valuation in anticipation of the next downturn. To me, the share is good for trading short term to ride the cyclical ups and downs in the share price. However, I wouldn’t try to use Lloyds as a long-term dividend-led investment and I’m not expecting a prolonged surge in the share price because of the company ‘exploiting its competitive position in the market’. Stock-Market Millionaire Full of Foolish wisdom, the free Special Free Report “10 Steps To Making A Million In The Market” lays out what we consider vital advice that can help create a possible £1 million portfolio! Take Step 6, for instance - Harness The Full Power Of Reinvested Dividends. While these cash payments may initially be small in relation to the capital value of the investment, reinvesting them into yet more shares can dramatically enhance your portfolio’s return! To see the jaw-dropping example we use to back up our case, as well as access to the remaining nine steps, click here to get your copy free of charge. Kevin Godbold has no position in any share mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Read Full Thread Follow Reply
12/4/2019 10:49	maywillow: Where next for the Lloyds Banking Group PLC share price after 22% gain in 2019? Could the Lloyds Banking Group PLC (LON:LLOY) (LLOY.L) share price deliver further growth? April 9, 2019 Robert Stephens Lloyds Share Price Lloyds Banking Group PLC Lloyds Banking Group PLC It’s been a strong start to 2019 for the Lloyds Banking Group PLC (LON:LLOY) (LLOY.L) share price. It has risen by around 22% since the start of the year, which is twice the return delivered by the FTSE 100 during the same time period. In my opinion, there could be volatility ahead for the stock depending on what happens with Brexit. However, in the long run I remain optimistic about the Lloyds share price as a result of its low valuation and what I consider to be a sound strategy. Risks With the Brexit process now set to be dragged out due to an impasse in Parliament, I wouldn’t be surprised if investor sentiment becomes increasingly changeable in the short run. Investors seem to be favouring a softer Brexit, since it could mean less change for the UK economy. But I think that it is difficult to know what will happen, and that as the process drags out that UK-focused shares such as Lloyds could see their share prices become increasingly volatile. Of course, with the UK economy forecast to grow by just 1.2% this year, its prospects appear to be relatively downbeat. Alongside this, consumer confidence is at a low level, which could mean that there are challenges ahead in the near term. Return potential That said, employment levels in the UK are high, while wage growth is beating inflation at the moment. This could mean that operating conditions for Lloyds are stronger than many investors are anticipating. This matches up with the bank’s recent updates, with its financial and operational performance suggesting to me that the economic landscape may be more robust than investors are pricing in. In terms of valuation, the Lloyds share price currently has a P/E ratio of 8.2. This suggests to me that it could offer good value for money, and there may be a margin of safety on offer. As per its its strategy, it is continuing to reduce costs as it seeks to become more efficient. It is also investing heavily in digital banking, which I feel is a sound move at a time when consumers are becoming increasingly dependent on mobile banking apps rather than their local branch. Together, higher investment and lower costs could create a more profitable bank over the long run. Investment potential Lloyds has strong recovery potential in my view. Even after its recent stock price rise, it continues to trade well below its five-year high. Although it may take time for it to reach higher share price levels after its recent rise, its valuation and strategy suggest to me that it could offer investment potential. Sure, Brexit may cause disruption and volatility in the short run. But over the long term I remain optimistic about the prospects for the company after what has been a strong start to 2019. Read Full Thread Follow Reply
12/4/2019 08:52	florenceorbis: Why I believe the Lloyds share price could soon return to 90p Alan Oscroft \| Wednesday, 10th April, 2019 \| More on: LLOY A stock price graph showing growth over time Image source: Getty Images. Let me confess upfront — I’ve been expecting the Lloyds Banking Group (LSE: LLOY) share price to soon return to 90p for a few years now. Lloyds shares are on a P/E of only eight, with forecast dividend yields of 5.5%, and rising. Dividends would be covered more than twice by earnings and, on the face of it, I’d say that looks like a bargain valuation. But when the market pushes a whole sector down you have to pay attention, and a low valuation is not necessarily an incorrect one. So what reasons are there for a bearish stance on Lloyds? The elephant Fellow Fool Royston Wild explains what clearly seems to be the biggest threat, a no-deal Brexit. Should that come to pass, much of the country will have a lot more to worry about than the price of Lloyds shares. We could be facing critical shortages, and would very likely experience a lengthy period of worsening economic gloom. While our departure from the EU was looking like happening by the planned date, or soon after, I thought the lifting of that millstone could well trigger an uprating of the financial sector. But that was on the assumption that we’d actually get a deal, and if we don’t, then the financial underpinning of the economy will surely suffer — the banks, that is. But Royston was writing a week ago, and that’s a long time. Since then, Prime Minister Theresa May has done the unthinkable and started talking to the Labour Party to try to reach an agreement. Delays And as she’s off trying to get another delay, it seems the heads of Europe are talking about a flexible extension of up to a year. That sounds very sensible to me — I’d much prefer Brexit to be done right than done quick. On the upside for Lloyds, if there’s a significant delay then that could drag us back from the brink of a no-deal disaster. On the downside, further delays could turn soon into maybe not quite so soon yet. There are plenty of other difficulties facing Lloyds and the other big banks. As Royston also points out, there’s increasing pressure in the mortgage market, and with Lloyds now pretty much refocused as a UK retail operation, it’s susceptible to that. But I think the share price has always taken into account those easily-seen uncertainties, and then some — current share valuations look far more discounted to me than is justified on such grounds. Turning? I also see sentiment changing. Lloyds shares are in a bit of a rally right now, having doubled the FTSE 100’s performance since the start of the New Year — Lloyds shares are up 20% compared to the index’s 10% gain. I can’t help feeling that suggests investors are coming to realise their fears are overblown and the shares are oversold. With the risk of a no-deal Brexit looking like it might be pushed back, again, I really can see Lloyds shares regaining 90p, and then more. But depending on the length of our next delay (assuming we get one), we might have to be flexible over the value of soon. Financial Independence, Retire Early If you’ve ever dreamt of retiring early, or if you’re already retired and protecting your financial independence is your aim, then this could be the report for you! We at The Motley Fool are pleased to offer you “The Foolish Guide To Financial Independence And Retiring Early” completely free of charge – simply click here to receive these expert insights and strategies. Alan Oscroft owns shares of Lloyds Banking Group. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Read Full Thread Follow Reply
24/3/2019 13:56	xtrmntr: I just can't see why Lloyds Banking Group (LSE: LLOY) isn't the best bargain in the FTSE 100 right now.I hold some in my SIPP, and though the share price has been disappointing over the past couple of years, I've enjoyed some healthy dividends - and I'm looking for a decade and more of steady, and rising, annual income.That, in a nutshell, is my ISA strategy too. I largely ignore the share price as long as it's not looking overvalued, and concentrate on the prospects for dividend yields over the long term.DividendsRight now, Lloyds dividends have recovered strongly from the financial meltdown and are forecast to yield 5.3% this year and 5.6% next. The payments would be more than twice covered by earnings too, which gives me confidence that they'll be sustainable over the long term.The fact that Lloyds shares are priced on a P/E multiple of under nine, well below the FTSE 100's long-term average, is something I see as an extra - and any share price appreciation over the next 10 years or so will be a bonus.A low P/E can be a sign of caution too, as it can indicate a share price that's low for a good reason. But with Lloyds, I really don't see any need for such a bearish view based on the company itself. I can only see the share price weakness down to the malaise that's still afflicting the financial sector, with fears greatly boosted by the uncertainty surrounding Brexit.CashThe bank is well capitalised, is growing profits, has strong cash flow, and its UK retail focus makes it, I think, the UK bank best insulated from the effects of Brexit.My colleague Rupert Hargreaves has pointed to what I agree is Lloyds' biggest risk right now, its exposure to the housing market. As the UK's largest mortgage lender, there's a fear that Lloyds could see bad debts rise should we face a falling housing market, and it could then have to make financial provisions for that.But while the housing market is cooling, prices are holding up, and I see that as a good sign for the market in general as we're in one of our toughest economic periods for some years. The housing market is also seriously, and chronically, undersupplied - and a serious shortage does 't usually presage a falling market.Valuation?What could Lloyds shares be worth in the long term? Even if the economic risk warrants a P/E below the Footsie's long-term average of around 14, I can't help seeing a multiple of about 12 being justified in the long term - especially if the bank's healthy dividend yields don't come under threat in the next couple of years.That would suggest a share price of around 87p, a premium of a third over today's price. But even without that, a 5.6% dividend yield on today's price, reinvested in more Lloyds shares, would grow £1,000 invested today into £1,725 in 10 years on its own.And that's why, in addition to having some in my SIPP, I have Lloyds shares down on my 2019 ISA shortlist too. Read Full Thread Follow Reply

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