Lloyds Grp 9.25 Discussion Threads

[holts] 23/3/2009 20:27

last hbos payment was received 1st december.

[solomon9] 23/3/2009 18:05

No one gives a tinker's poop about this stock, doing nothing except sitting on its behind.

[skylaunch] 23/3/2009 11:55

Does anyone know categorically when these go ex -div?

I remember with llpe that it was approx 5 weeks before the payment, which suggests the 10th April?

[future financier] 23/3/2009 10:21

Frankly I am not too worried about the share price - so long as they keep paying the divi. Indeed if they are paying the divivi in a couple of years time AND the share price is still in the mid forties this would be just such a fantastic opportunity!

[solomon9] 16/3/2009 17:11

I hope I am wrong but this could take a couple of years to recover recent losses.

[supernumerary] 16/3/2009 15:19

That's good news for all of us - thanks.

[dalesiders] 16/3/2009 14:38

LLPE 6.475% pref divi paid today and in my bank account

[solomon9] 15/3/2009 14:14

The real issue is wether or not Lloyds is out of the woods now, having taken these writedowns, will writedowns in 09/10 be below operating profits hence can the bank limp on with weak profitability during the downturn avoiding nationalisation. The Weekend FT this week shows prices of Halifax bonds and PIBS falling very sharply this week (the 2021 bond wentdown 20 to 79) which seems a bit odd given that Lloyds is meant to be protected and overcapitalised post the APS. Barclays perpetuals were also down around 10%. The fact is from the look of these prices the bank bonds are still not calming down, which to me seems odd.

[renew] 14/3/2009 19:22

Having commited to a scrip divi on the ordinaries I think the board have commited themselves to having to pay the pref divi.

[solomon9] 14/3/2009 11:28

I reckon they will pay the coupon but I don't think this will make much difference to the price.

[solomon9] 13/3/2009 12:40

Understood on moving the debate. My thinking is if they cancelled the US pref payment it would cause US cpy to review their credit lines.

[supernumerary] 13/3/2009 12:19

interesting post by kt47 over on the iii board. I haven't read the LLOY bb discussion he refers to - Lloyds boards in general are too busy to keep ploughing through - but it may be worth it if you're unsure about the pref dividends. If anybody does, and finds anything of interest, a repost here would be appreciated.

----------------

"The LLOY bb has included over the last two days a good deal of discussion about LBG's preference shares, and their currently high yields.

I posted yesterday evening a reply from LBG investor relations to a request for clarification of the FD's comments in response to an analyst's question during Monday's webcast. It was as follows:

'With regard to preference share dividends as Tim Tookey stated on the
conference call earlier this week there has been no change to our preference share dividend plans. This means that our capital plan assumes payment of all preference share dividends. As I am sure you will appreciate, no company's Board can guarantee the payment of future dividends but Lloyds has never missed such a payment.'


One of the four prefs, LLPE, has already gone ex-div for payment of the semi-annual dividend this month, the other three, LLPC, LLPD, LLPF, are due for payment in May, so there is not long to wait to see if they keep up their 100% record, at least for now.

LBG also mentioned that they are working on a pref section of the website,
which HBOS used to provide."

[p@] 13/3/2009 11:10

I think that the reason why these divis will be paid for as long as possible is that if they are missed they will surely reduce the credit rating of the Bank and maybe the rating of GB. itself.

[supernumerary] 13/3/2009 10:55

LG - seems to be all the same posters on both threads anyway! But you're right the RBS stuff should be over there. In future...

[lord gnome] 13/3/2009 08:15

Just a thought - should we move this discussion over to the NWBD thread? This is in danger of becoming the RBS US pref thread.

[supernumerary] 12/3/2009 22:15

All 10 of the US issues are showing the same pattern, but I can't find any xd flags anywhere. They've held up very well today in the circumstances.

[solomon9] 12/3/2009 21:38

Interesting the RBS L issue is not showing xd though the price movement suggest it has gone xd.

[solomon9] 12/3/2009 09:15

I suppose if RBS stopped paying the series prefs this would damage their credit lines in New York, maybe too big a risk ?

[solomon9] 11/3/2009 22:08

ok I might have a go with the L series. Assuming RBS stays together is a big if; might get a better return from Bernie Madoff

[supernumerary] 11/3/2009 15:31

sommet2 - I've held US shares in 2 UK accounts and 2 US accounts and never had to pay withholding tax, although I do of course have the yearly W8BEN ritual to perform. If the broker insists on the withholding tax, I'd be inclined to change brokers!

[bobdouthwaite] 11/3/2009 15:22

Thanks all, I seem to be on the right track: it's the W8 BEN form that's holding me back.

[sommet2] 11/3/2009 15:03

bodouthwaite,
They will ask you to sign a W8 BEN form.As this is traded as a share,not a debt instrument, you may have to pay US witholding tax of 15%. You can claim this back but it is difficult and costly.I would ask them the question before you buy.

[supernumerary] 11/3/2009 14:59

LG - not doubting it, just not something I'd looked into before, and took the RBS announcement at face value. Useful to know, thanks.

I see they're up again today - it'll be interesting to see the effect of going xd. Muted I hope.

[lord gnome] 11/3/2009 14:24

Or your stockbroker. In this country, all shares go ex-div on a Wednesday, regardless of the record date. This maintains an orderly market. If there is a similar rule in the US I don't know, but please believe me that ex-div date is all that matters if you are buying or selling.