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LLOY - Share buyback 2019

lse:lloy

#382

Bowman

I am happy with £10 Million daily spend

I thought 60p was the Bottom with Lloyds only a few weeks ago :wink:

Who knows so lets keep hedging our bets here Lloyds Buy Back

Any Lloyds shares bought and cancelled under 50p is a Brucie Bonus


#383

I did not say there had been market manipulation, however if the Brokers were to try to buyback 100m shares per day, and the sp subsequently rose considerably, then this could be construed as market manipulation in some quarters. This is nonsense since why would the Brokers want to get the sp to rise when they want to buy more shares!

As to the remaining funds, well that is easy since the buyback funds were set at £1.75bn of which £0.943m has been spent leaving £0.807m to be spent.

The average daily spend so far this year had been £8.3m, but it looks like this is being increased recently.


#384

Nearly 20 million purchased and cancelled today :slight_smile:


#385

So what ?

They cannot find a better use for their funds.

So many bonus shares issued that they are almost forced in to a very expensive buy back just to stay even.

They would have been way better off spending the money on a trading team.

soi


#386

Some people are happy to see people lose money…

Me I am just happy


#387

Come on regardless, soi is not revelling in anybody’s losses. In fact he offers plenty of help and advice to those that ask.

In fact his opposition to your positivity would be quite useful to a uninformed investor skimming these boards for a general picture.

Just imagine if the realists didn’t exist and your nan was looking to invest her life savings and all she saw was how great Lloyd’s was at 65p and on it’s way to £1 with it’s ever progressive dividend and its ability to fly.

Personally I like you Regardless, I want you to do well and I’d love you to hit 80p. So does soi from what I read and I also know you appreciate him also.

Soi trades and he is great at it, your only knocking him tonight because he is pointing out the flaws in your ramping.
Well that and you’ve had a couple of jars and the cricket bet is going against you.

But dont hold it against him, we all need realists.


#388

Some maybe. Not me fella. I would like all the ordinary investors/traders to succeed.
Best the losses are taken by the big trading houses but overall that does not really happen.

I have tried always to be helpful, for no reward, would not want any.

I have had some nice comments, private, of how some feel I have helped.
Not going in to more detail on that.
Glad that some have been inspired.

Although still a very active trader, the time will come when I need to slow down.
Might as well pass on my experience. The good and the bad.

You either get it or you don t.

Nothing to sell, no fancy system, no courses, just experience.

soi


#389

Well said etc.

On the other hand I defend the right of regardless and anyone else suffering this bloodbath to remain cheerful. You have to.

It is right to balance optimism with caution and we all need to listen to those who scrutinise and challenge things. For the most part people are trying to be helpful. But let’s do it with a bit of respect and humility or this board is toast. Getting things right in the short term is mostly hope and luck.


#390

Quote
“Some people are happy to see people lose money”
In years past.
There must be a huge bunch of Lloyds investors laughing all the way from this bank,
Not
Salutations all.


#391

No matter how uninformed a new investor would be he/she would skim past the posts of regardless at the speed of light.

IMHO,

SBK


#392

SBK,

In fairness, I think a lot of it is pure banter & intended as much. Some of it occasionally excessive after boozy nights out, but generally accepted for what it is by most BB regulars. I think few people, if any, will be that surprised by Regardless’s by now characteristic approach to markets, or be offended by his largely off-the-cuff views.

Mind that Regardless, like many others here, isn’t a trader. He never has been. Whilst I don’t go along with regular top-ups or putting too many eggs in the same basket, to his credit, he does tend to ride out even the most severe downturns & comes out of it booking profits even when many others take significant hits. That’s from observing him since we both joined roughly at similar times in 2009.

He’s very dogged & to each their own as regards what works for them over their particular timeframe. Some don’t mind sitting for years & taking yield. FWIW, I think he’ll also be fine here eventually, but timing remains very uncertain.

Soi rightly has enormous respect from many people as he’s in a very different league from just about anyone I’ve ever come across on financial BBs & on any site. That includes the old gang of Tas Devil, Barcap, Rumplestiltskin & co. Worlds apart. - Regards.


#393

Cheers Jack

Like you I seen many come and go on these Bill Boards

Like you, I am still here standing , that must say something after 10 years :wink:

Does appear its ok for any Share Guru to post their wise stock trading skills, but when it comes to the likes of me I am just poked at and laugh at

There are many types of Investors … its called a Market


#394

I don’t know why we are so bad at buybacks in this country. If a buyback is to be successful then you get more agressive as the price drops. This is what makes for a successful buyback, that and the fact it needs to be a substantil slice of market cap. About 5%. Research shows that failed buybacks are typically around 2.5% of market cap (no idea what LLOY’s is).

Some people may think regulation disallows changing gears with a buyback in the UK, but the first HSBA buyback (the best I’ve ever seen conducted in the UK) shows that if you set the rules for your third part buyer correctly then they have room to maneuver and do the right thing.

As for starting the buyback at such a high level (relative to where we are now), then common sense surely tells you to start off tentatively because the up-coming hurdles were bound to see at least temporary dips in the stock price. This is a bank for chrissake! A lot of directors and board members in failed buyback companies haven’t really got a clue about the marklets - but you’d hope the LLOY board does.

You don’t need to be an expert though. Common sense tells you that Brexit is just another hurdle after LLOY has purposely divested itself of its most profitable revenue streams. A little research will highlight the really big question which @soi asked above.

Where are the revenue streams going to come from in future?

There are years of uncertainty ahead, perhaps 2-5 with a Brexit deal, 10-15 without one. We’ve seen 3 years of decreased investment in the UK on Brexit uncertainty which means less potential loans for LLOY. The number of mortgages have been falling (if not the total value) despite the population rising.

Interest rates are going to remain low, which is a retail bank’s bread and butter.

LLOY need a complete rethink of their business model. It isn’t going to happen though, is it? It is only a matter of time before politicians start pointing at LLOY’s yield and asking questions.

Just like they did with Centrica and other utilities which are essential for living in today’s society. That includes a bank account and credit card if you want to be a full member of society, along with internet connection and utilities.

Charging for current accounts? It is the only obvious step I can see other than cutting branches and staff, but you can’t keep doing the latter forever. The former will see a mass exodus of customers. UK citizens are just used to banking for free and wont have it.


#395

120 trading days have now elapsed since the start of the 2019 LLOY buyback, and 58% of the funds have been spent buying back 1.73bn shares at an average price of 58.63p.



LLOY have so far made a loss of 15% (£149m) on this year’s buyback or a loss of 18% (£356m) on the combined 2018 and 2019 buybacks. The total spent by LLOY for 2018/2019 is so far £2,009m

This year the number of shares in issue has been reduced by 1.5%, which when combined with last year’s buyback results in a 2.5% reduction since early 2018. This corresponds to an increase in the dividend per share of 2.5%.

I have seen many posts indicating that LLOY’s brokers were doing everything wrong and they should be following the example of HSBC. Consequently I decided to look at how the 2018/2019 buyback had performed for HSBC.

HSBC has so far spent £1,829m and made a loss on these purchases of 15.4% (£282m). The number of shares in issue has actually increased by 0.8% (showing that HSBC also issues bonus shares) since early 2018, which means that the dividend per share has decreased by almost 1% during the buyback.

It looks to me as if the LLOY buyback has actually performed better than the HSBC one.


#396

Companies buying their back shares by the billions , while paying a juicy dividend of nearly 7%

What more can one ask for when investing in shares

Lloyd’s Will not be 50p forever folks

My day is coming again here

Big bucks for regardless Pension fund :slight_smile:


#397

wow where did LLOY have £3,800 Million of “internal resources” available to buy the Tesco mortgage book? A book which only earned them around £9M profit … not a very good return is it.

Just think of all the buy backs we could have done instead!


#398

What do you mean by only £9million profit; you mean for Tesco?


#399

Yes on income approx £81M


#400

A terrible return, no wonder the other banks left it to LLOY.

soi


#401

Thank you Bowman for numbers.
21 Plus million today .
Two for the price of one?
Antonio may have taken the right course…contrary to many vocal naysayers.
Salutations