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Lloyds Prefs Tender Offer
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- Lemon Slice
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Re: Lloyds Prefs Tender Offer
Yep, it's not easy. I'm grappling with the same problem.
Maybe with interest rates now finally on the way up it's not the best time to put proceeds back into fixed interest?
Maybe with interest rates now finally on the way up it's not the best time to put proceeds back into fixed interest?
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- Lemon Quarter
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Re: Lloyds Prefs Tender Offer
Laughton wrote:Yep, it's not easy. I'm grappling with the same problem.
Maybe with interest rates now finally on the way up it's not the best time to put proceeds back into fixed interest?
Something I have been thinking about as well and one of the reasons for coming out of LLPC/D. My lowest yielding FI security is Co-op Group 11% 2025. At a bid of 122.7 that's a YTM of 4.66%. If the rise in inflation turns out not to be a short blip, that is looking like a real terms loss by maturity. I am still holding, but questioning the sense in doing so and I may reduce the position.
For the moment I am directing money into options trading rather than FI. The recent very high implied volatility makes this attractive even for ungeared positions. eg I sold some WTI puts today at a strike of 6400 with implied volatility of about 50%. If the puts expire worthless in a 4 weeks tomorrow, the return will be 2% (ungeared), or about 30% annualised. Options are however considerably more nerve-racking than FI and constant vigilence is required!
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- Lemon Half
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Re: Lloyds Prefs Tender Offer
Laughton wrote:Maybe with interest rates now finally on the way up it's not the best time to put proceeds back into fixed interest?
I put some into AXI Axiom Euro IT, current yield 6.2%.
Fixed interest, but not as we know it.
V8
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- Lemon Quarter
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Re: Lloyds Prefs Tender Offer
We haven't yet had the proceeds from the tendered certificated holding of LLPD. I am guessing this will arrive as a cheque with the accrued, but has anyone else tendered certificates and been paid?
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- The full Lemon
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Re: Lloyds Prefs Tender Offer
hiriskpaul wrote:We haven't yet had the proceeds from the tendered certificated holding of LLPD. I am guessing this will arrive as a cheque with the accrued, but has anyone else tendered certificates and been paid?
Not LLPD and not certificated (Lloyds/Shareview Nominees)! But have had cheque for LLPE tendered shares at advertised price. I await any further information wrt accrued (cheques to be issued 6 days after settlement date).
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- The full Lemon
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Re: Lloyds Prefs Tender Offer
Have today received Dividend Confirmation for small cumulative received following tendering of all my LLPE held in the Lloyds nominee account.
Why do they always insist on sending a cheque for capital payments, but bank still pay dividends direct to bank? Simplicity of IT operation I suppose.
Still have to check main holding in ISA with broker.
Why do they always insist on sending a cheque for capital payments, but bank still pay dividends direct to bank? Simplicity of IT operation I suppose.
Still have to check main holding in ISA with broker.
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- Lemon Quarter
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Re: Lloyds Prefs Tender Offer
XFool wrote:Have today received Dividend Confirmation for small cumulative received following tendering of all my LLPE held in the Lloyds nominee account.
Why do they always insist on sending a cheque for capital payments, but bank still pay dividends direct to bank? Simplicity of IT operation I suppose.
Still have to check main holding in ISA with broker.
For the certificated shares we have been credited today with the accrued to the usual bank account, but not had a cheque for the capital!
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- The full Lemon
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Re: Lloyds Prefs Tender Offer
Accrued dividend was credited to ISA broker account wrt my main holding in LLPE. So that is all done now.
That's sounding ominous if still the case. Though there have been some postal delays around the country.
hiriskpaul wrote:For the certificated shares we have been credited today with the accrued to the usual bank account, but not had a cheque for the capital!
That's sounding ominous if still the case. Though there have been some postal delays around the country.
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- Lemon Quarter
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Re: Lloyds Prefs Tender Offer
XFool wrote:Accrued dividend was credited to ISA broker account wrt my main holding in LLPE. So that is all done now.hiriskpaul wrote:For the certificated shares we have been credited today with the accrued to the usual bank account, but not had a cheque for the capital!
That's sounding ominous if still the case. Though there have been some postal delays around the country.
The cheque turned up on Christmas eve, after banks closed.
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Re: Lloyds Prefs Tender Offer
Is anyone els estill awaiting settlement for their shares?
Even allowing for the Xmas Effect, surely by now, they should have collected all those offered. I'm with ii and my LLPC holding still shows up in my portfolio.
Even allowing for the Xmas Effect, surely by now, they should have collected all those offered. I'm with ii and my LLPC holding still shows up in my portfolio.
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- Lemon Quarter
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Re: Lloyds Prefs Tender Offer
tractorian wrote:Is anyone els estill awaiting settlement for their shares?
Even allowing for the Xmas Effect, surely by now, they should have collected all those offered. I'm with ii and my LLPC holding still shows up in my portfolio.
Shouldn't give them the excuse of Xmas. That's just poor service IMHO. I received the tender proceeds on 16th and the accrued hit my account on the 24th. All done. I held them with HL.
All the best, Si
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Re: Lloyds Prefs Tender Offer
tractorian wrote:Is anyone els estill awaiting settlement for their shares?
Even allowing for the Xmas Effect, surely by now, they should have collected all those offered. I'm with ii and my LLPC holding still shows up in my portfolio.
iii tell me that I didn't in fact accept the offer???
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- Lemon Slice
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Re: Lloyds Prefs Tender Offer
tractorian,
I held LLPC in my SIPP at ii and have received all payments due as set out in the tender offer, which I accepted.
I'm not aware of any tender offer problems at ii. However, I have experienced problems with items that are posted (snail mail) to ii.
Did you accept the tender offer online or by phone?
Y
I held LLPC in my SIPP at ii and have received all payments due as set out in the tender offer, which I accepted.
I'm not aware of any tender offer problems at ii. However, I have experienced problems with items that are posted (snail mail) to ii.
Did you accept the tender offer online or by phone?
Y
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Re: Lloyds Prefs Tender Offer
yieldhog wrote:tractorian,
I held LLPC in my SIPP at ii and have received all payments due as set out in the tender offer, which I accepted.
I'm not aware of any tender offer problems at ii. However, I have experienced problems with items that are posted (snail mail) to ii.
Did you accept the tender offer online or by phone?
Y
I thought I accepted it on-line.
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Re: Lloyds Prefs Tender Offer
Has anyone received the Incremental Accrued Dividend Payment on these. I've chased my broker but it's all gone rather quiet.
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- Lemon Half
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Re: Lloyds Prefs Tender Offer
Pretty sure I did - I'll check (HSDL)
edit
04 Jan 2022 Dividend: LLOYDS BANKING GP 6.475 NONCUM PRF SHS GBP [LLPE]
£6.53
that would be the one?
edit
04 Jan 2022 Dividend: LLOYDS BANKING GP 6.475 NONCUM PRF SHS GBP [LLPE]
£6.53
that would be the one?
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- Lemon Slice
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Re: Lloyds Prefs Tender Offer
Thanks for flagging this up.
Looks like HL credited the extra interest on the same day (December 15th) but looks like nothing received from iDealing. I'll have to chase them up.
Looks like HL credited the extra interest on the same day (December 15th) but looks like nothing received from iDealing. I'll have to chase them up.
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- Lemon Half
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Re: Lloyds Prefs Tender Offer
StayinAlive wrote:Has anyone received the Incremental Accrued Dividend Payment on these. I've chased my broker but it's all gone rather quiet.
I chased this up a couple of weeks ago with AJ Bell, having received the proceeds for the shares but not the accrued dividend. I got the following response on the 20th Jan:
Our dividend team has provided the following update regarding your below query:
‘The money we have received from the registrar for these payments do not reconcile with what we were expecting. The registrar have also not provided us with any paperwork confirming the amount of shares they have paid us out on.
We have chased the registrar on this a few times and are waiting for confirmation from them so help us reconcile and pay customers’.
The payments will be made once the cash is made available.
As of today, I've had no further updates or payment.
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