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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Lloyds Grp 9.25 | LLPC | London | Preference Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 135.75 | 07:47:32 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 135.75 | 135.75 | 135.75 | 135.75 | 135.75 |
| Industry Sector |
|---|
| BANKS |
| Top Posts |
|---|
Posted at 02/5/2024 09:37 by jong XD Today. 4.625p per share payable on Friday 31 May 2024.Dividend Yield Today around 6.6% per annum. |
Posted at 02/1/2024 09:55 by dope007 Added some LLPD for the first time this morning. I hold RSAB, STAC, STAB and these. Been unable to buy STAC or STAB online at all so went with LLPD to increase my pref share holdings in my ISA |
Posted at 04/5/2023 08:24 by vb6 Final Ex-Dividend Date 04-May-2023Final Dividend Payment Date 31-May-2023 |
Posted at 20/5/2022 19:27 by hindsight With hind sight I should have tendered all rather than 60%. Been buying NWDB, not sure if I will LLPC due to ECN affair. Bailey over saw that so never would have got my vote for BoE govenor |
Posted at 09/2/2022 06:01 by glavey "Anyone regretting not taking the 174.2p tender offer?"For LLPC there wasn't one. |
Posted at 15/12/2021 12:51 by cwa1 15 December 2021 Retail-Only Settlement DateExpected Retail-Only Settlement Date for the Offers in respect of Retail Holders whose respective validly submitted Tender Instructions are received by the Receiving Agent after the General Expiration Deadline and prior to the Retail Only 22 Retail-Only Expiration Deadline. Payment of Purchase Consideration and Incremental Accrued Dividend Payment to Retail Holders in respect of the Offers. As detailed in the section “Terms and Conditions of the Offers – Payment” below, pursuant to the relevant Offer, payments in respect of Preference Shares held in certificated form may be made by cheque, and such cheque is expected to be issued 6 business days after the RetailOnly Settlement Date. Furthermore, pursuant to the relevant Offer, all payments of the Incremental Accrued Dividend Payment will be made outside of the CREST system and are therefore expected to be issued 6 business days after the Retail-Only Settlement Date. |
Posted at 20/11/2021 01:38 by glavey Really any retail holder should wait until they can analyse and consider the results of the 'institutional' offer on Monday 22nd (and perhaps read any comment following). There is adequate time available, so best use it. If the amount tendered is small it suggests that the perceived risk of holding is limited, and vice-versa.*To add some context the amount tendered in respect of the Nat West NWBD 9% offer, more generously priced at 175p, was just 17%. So 83% rejected it, preferring to keep the prefs. The Lloyds offer for the LLPC 9.25% is 165.75p, so a lower offer for an instrument paying a larger dividend. There is a difference in the terms which favour NWBD but that has only been recognised (pricewise) by the market in the past year or so. Look back and you will see NWBD trading lower than LLPC for quite a while after the GFC (and for that matter before it as the equivelent HBOS instrument). It doesn't take much working out to deduce that if Lloyds had priced their offer in line with Nat West it would be at 179.86p rather than 165.75p and the latter represents 92%, or an 8% discount. (Rounded figures, obviously.) The considered view is that the Lloyds offer is not 'good', it is at best reasonable but actually rather mean if the underlying intent is to get shot of these in a market friendly manner. * When considering the results note that it is not clear how many are held by 'institutions' and how many by 'retail'. However LLPC 9.25% has been popular with retail because the issue size provided greater liquidity and at times a smaller spread. This resulted in the available yield on LLPD 9.75% often being a little lower (than LLPC) at market offer. LLPE 6.475% has not been so popular with retail because of the apparent lower dividend and because it carries a 2024 call, so almost certainly will be redeemed at par at that time. |
Posted at 19/11/2021 17:26 by peterbill I think I'll take up the offer ... don't have that many and all in ISA and it does seems like a good offer.Lloyds Banking Group plc has announced that it intends to purchase all the £300,000,000 9.25% non-cumulative irredeemable preference shares in issue through a tender offer. This will give you the choice to sell, or tender, your shares to the company at a fixed price with no dealing charges. Under the proposed terms of the offer, you will be given the choice to tender your shares at a price of 167.25% of the liquidation preference. For clarification purposes, this means you will be given the choice to tender your shares at GBP1.6725, which is equal to 167.25% of the liquidation preference. The purchase price includes an amount equal to accrued and unpaid dividends. The next dividend payment date pursuant to the terms of the 9.25% preference shares is 30 November 2021 with the record date being 5 November 2021. If you are a holder on the record date, you will be entitled to the dividend payment. This payment will be made separately in addition to the purchase price. |
Posted at 15/11/2021 08:49 by glavey nickieg,"CNBC analysts on 3 Nov were suggesting a 1.25% BoE base rate by end 2022, a full 1.1% above the current rate. Just a 0.5% increase in LLPC yield which is less than half the predicted movement in base rate, would suggest a drop in LLPC share price to around £153.50, or -8.3%." These instruments were Halifax / HBOS preference shares which Lloyds converted to their own in 2009. Prior to this, when interest rates were much higher (around 5%) these still traded at decent premium to par. Unfortunately the LLPC charts don't go back beyond 2009 as that's when the LLPC security was issued and it's difficult to find the historical prices before that but if my memory serves me correctly it was around 160-170p (yield 5.6% appx.). The only thing that wasn't built in at that time was the degree of distrust Lloyds has now afforded itself. If you applied your concept historically going back to, say, 2006 they would have traded close to par then, putting the yield at circa 9% (and other similar instruments would also need to reflect that). In real terms 5.6% yield was probably slightly better than typical Building Soc. savings interest at the time. (One would also need to consider the tax position.) There aren't many of this kind of fixed interest instruments left now that are available to 'retail'. |
Posted at 14/11/2021 14:01 by nickieg On 3 Nov. this share dropped by over £5 (more the value of the Nov dividend) presumably reflecting market expectation that the MPC would shortly start to move interest rates up to deal with rising inflatioary pressures caused by covid, brexit and global supply issues. So, the question now is when and how far interest rates will rise in the near to medium term.NWBD shares are already £5 below the last summer's tender offer price of £175 suggesting the market believes any new offer for the 84% outstanding shares (some of which I hold) is likely to be lower reflecting future hardening of interest rates and presumably comparable increses in yields for fixed income investments. CNBC analysts on 3 Nov were suggesting a 1.25% BoE base rate by end 2022, a full 1.1% above the current rate. Just a 0.5% increase in LLPC yield which is less than half the predicted movement in base rate, would suggest a drop in LLPC share price to around £153.50, or -8.3%. So maybe this tender offer looks good. Food for thought! |
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