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Lloyds Banking Group - changing to quarterly dividends

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mike
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Lloyds Banking Group - changing to quarterly dividends

#222032

Postby mike » May 16th, 2019, 10:35 am

From next year, Lloyds are changing from bi-annual to quarterly dividend payments.

Lloyds Banking Group is today announcing that it will move to the payment of quarterly dividends in 2020, with the first quarterly dividend in respect of Q1 2020 payable in June 2020.

The new approach will be to adopt three equal interim ordinary dividend payments for the first three quarters of the year followed by, subject to performance, a larger final dividend for the fourth quarter of the year. The first three quarterly payments, payable in June, September and December will be 20 per cent of the previous year's total ordinary dividend per share. The fourth quarter payment will be announced with the full year results, with the amount continuing to deliver a full year dividend payment that reflects the Group's financial performance and our objective of a progressive and sustainable ordinary dividend. The final dividend will continue to be paid in May, following approval at the AGM.


https://www.investegate.co.uk/lloyds-banking-group--lloy-/rns/intention-to-pay-quarterly-dividends/201905160700052323Z/

I hold Lloyds in a taxable account, so more record keeping. Oh, the joy.

Lootman
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Re: Lloyds Banking Group - changing to quarterly dividends

#222034

Postby Lootman » May 16th, 2019, 10:45 am

mike wrote:From next year, Lloyds are changing from bi-annual to quarterly dividend payments.

I hold Lloyds in a taxable account, so more record keeping. Oh, the joy.

In a taxable account the dividends will be reported in the consolidated tax certificate that you will receive annually. As such you don't have to do any record-keeping for tax purposes, although of course you may choose to do so for your own personal purposes.

This is on my mind because it was just yesterday that I emailed a PDF of my tax certificate to my accountant, and that is the limit of work I do in a year for reporting dividends for tax purposes. Maybe took me 30 seconds!

mike
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Re: Lloyds Banking Group - changing to quarterly dividends

#222040

Postby mike » May 16th, 2019, 10:59 am

Lootman wrote:In a taxable account the dividends will be reported in the consolidated tax certificate that you will receive annually.

Mine is a CREST account. There are no consolidated tax certificates; dividends are paid direct to my bank, and I receive dividend vouchers for each company direct from the registrar. Some are consolidated annual vouchers, others are per payment vouchers.

Luckily Lloyds are a company that issues an annual dividend voucher, unlike Imperial Tobacco which issue 4 of them, but it is still extra admin recording the receipts.

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Re: Lloyds Banking Group - changing to quarterly dividends

#222042

Postby Lootman » May 16th, 2019, 11:04 am

mike wrote:
Lootman wrote:In a taxable account the dividends will be reported in the consolidated tax certificate that you will receive annually.

Mine is a CREST account. There are no consolidated tax certificates; dividends are paid direct to my bank, and I receive dividend vouchers for each company direct from the registrar. Some are consolidated annual vouchers, others are per payment vouchers.

Luckily Lloyds are a company that issues an annual dividend voucher, unlike Imperial Tobacco which issue 4 of them, but it is still extra admin recording the receipts.

Fair enough, I remember all that admin work from back when I held unit trusts direct with the issuers, IT savings schemes, and privatisation issues for which I had the actual certificates.

I've been nominee account only for a couple of decades now, so no longer have to worry about it. Might have to worry about other things, of course . .

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Re: Lloyds Banking Group - changing to quarterly dividends

#222071

Postby idpickering » May 16th, 2019, 11:53 am

Thank you mike for putting this up. Luckily all my holdings are in my ISA, no no tax issues.
As for the quarterly payments, I’m not fazed by it at all.

Ian.


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