lockdown and yields

[Arborbridge]

I am maintaining the same attitude to dividend yield this year as I did last year - that is, not rushing to quick judgements. Companies are only just beginning to get vague idea of where they are going, and what will be normal.

We clearly having some degree of recovery of income all round, and that suits me and also means that I can afford to give some companies a little slack until the fog has lifted further. Lloyds is one such company, HSBC another - D S Smith and others are also on the naughty step and will be until some more definite future is sketched out.

I see no reason to rush to judgement, so mostly it is "steady as she goes". In that regard, I believe the only "lockdown" judgement I made was to sell BT as I wasn't willing to wait. Otherwise, I have purchased or held rather than sold. (Trimmings did take place of AZN and PNN, but no complete sales apart from BT.)

A recent decision was to halve my BHP holding and share it with RIO - that decision is being played out now but needs shunting some cash around.

Arb.

[funduffer]

I am 100% with you, Arb.

I hold LLOY and HSBA, and I have no intention of doing anything with them as they navigate a way back to dividends, whilst being constrained by the PRA. I think if I am patient, I will see some good returns from Lloyds and a respectable yield going forwards.

My only recent activity has been to sell South32 following its recent paltry dividend announcement and replace with RIO. So, like you, I now hold both BHO and RIO in this sector. Both have good yields.

I think we are more or less at the pandemic low point now for HYP, and the only way is up.

FD

[Wizard]

I am maintaining the same attitude to dividend yield this year as I did last year - that is, not rushing to quick judgements. Companies are only just beginning to get vague idea of where they are going, and what will be normal.

We clearly having some degree of recovery of income all round, and that suits me and also means that I can afford to give some companies a little slack until the fog has lifted further. Lloyds is one such company, HSBC another - D S Smith and others are also on the naughty step and will be until some more definite future is sketched out.

I see no reason to rush to judgement, so mostly it is "steady as she goes". In that regard, I believe the only "lockdown" judgement I made was to sell BT as I wasn't willing to wait. Otherwise, I have purchased or held rather than sold. (Trimmings did take place of AZN and PNN, but no complete sales apart from BT.)

A recent decision was to halve my BHP holding and share it with RIO - that decision is being played out now but needs shunting some cash around.

Arb.

I still hold BT, but am now thinking of selling. It is up around 30% from the worst, but with the recent drift down again I am struggling to see where any further sustained recovery comes from. I am not convinced any form of dividend recovery will not end up being further deferred as I have little confidence in the management team. But as I said on another board, there is merit from hanging in there in some cases, Royal Mail being a case in point. I also have Imperial Brands which has eaten more than half the capital invested, but with a yield of close to 10% something has to give, either that dividend is going to be cut again or the price has to increase, one way or the other that yield can't stay that high surely.

[tjh290633]

D S Smith and others are also on the naughty step and will be until some more definite future is sketched out.

Point of order, m'Lud. In https://www.investegate.co.uk/smith--ds ... 00071420I/ DS Smith announced a 4p interim to be paid on 4th May 2021.

TJH

[Arborbridge]

D S Smith and others are also on the naughty step and will be until some more definite future is sketched out.

Point of order, m'Lud. In https://www.investegate.co.uk/smith--ds ... 00071420I/ DS Smith announced a 4p interim to be paid on 4th May 2021.

TJH

Yes, I see I have allowed that in my spreadsheet guessing at 11p for the year. However, we need to wait until later in the year to see if further progress has been made towards "coming off the step".

Thanks for the reminder, but I'm pleased to say I didn't overlook it in my income estimates, and hopefully any shock will be on the upside.