Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
At the end of last month I wrote an article noting how both Royal Dutch Shell (RDSB) and Lloyds (LLOY) were wisely moving away from the sort of dividend payment seen back in 2019. For Lloyds there was little choice as the regulators put the kibosh on dividend payments for the time being. And - as I noted at the above link - 'a bank is a geared play on an economy and hence if you have a recession or worse, it is going to hurt', hence the writedowns the company noted last month and the reality that Lloyds shares currently trade for only a little above x0.5 price to tangible book.
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