STOCK WATCH: Will Lloyds Banking Group’s dividend rise as boss Horta-Osorio rides into sundown?
Lloyds chief Antonio Horta-Osorio will this week preside over his closing set of annual outcomes earlier than leaving the saddle on the Black Horse financial institution.
The polished Portuguese fingers over to HSBC banker Charlie Nunn later this year after an eventful, well-remunerated decade pockmarked by scandals and department closures.
Britain’s greatest lender is often seen as a bellwether for the broader economic system so its momentum will likely be examined carefully.
Lloyds chief Antonio Horta-Osorio will this week preside over his closing set of annual outcomes
Lloyds shocked the City in October by setting apart much less money than anticipated to cover dangerous loans.
But analysts reckon the financial institution is prone to have turn out to be extra cautious amid the 2 subsequent lockdowns.
With financial institution dividends again on the agenda, a 1p a share payout for 2020 is anticipated, which may attain 2p however stays effectively wanting the three.2p divi as just lately as 2018.
Maybe Horta-Osorio will give buyers a raise with a shock parting present.
Charlie Nunn’s present store HSBC will, like Lloyds, submit full-year numbers – giving a mirrored image of the worldwide economic system.
Europe’s largest financial institution has been going through criticism for its actions in Hong Kong and its involvement within the tussle between China and the US over Huawei.
But hopes are excessive that its funding financial institution has matched its US rivals’ current good fortunes.
For its stateside retail financial institution, there was chatter that HSBC needs to promote the struggling division. With NatWest now pulling out of Ireland, retrenchment would be the order of the day for Britain’s under-pressure bankers.
Trainline chief Clare Gilmartin will this week log out after seven years in cost – having simply offered £412,000 price of shares within the ticket vendor, which scored a profitable 2019 float earlier than the pandemic.
The former aggressive swimmer stays a big shareholder, however her newest sale comes on prime of £16million of shares she offered on the float and £3million cashed in two months earlier than saying her departure. Plenty to splash out with, then.
Logistics operator Menzies Distribution might be poised for extra acquisitions following its large title signing final week, sources say.
The appointment of former Asda chief govt Andy Clarke as chairman is a sign non-public fairness backer Endless is about to speed up development, they add.
The company, acquired by Endless in 2018, has solely simply sealed a deal to purchase Bibby Distribution. But the following part of development plans are mentioned to be ‘aggressive’.
Revenues on the Edinburgh-based agency are already in extra of £1billion.
It distributes newspapers and magazines to virtually half of the UK and parcel supply companies to some 30,000 places every day.
Contributor: Neil Craven