HBOS Dividend

maxi_isa

HBOS was due to pay a dividend of 6.1p/shares, IN SHARES, in early October. Has anyone picked up whether this will still be paid?

stevetodd

maxi_isa wrote: »

HBOS was due to pay a dividend of 6.1p/shares, IN SHARES, in early October. Has anyone picked up whether this will still be paid?

My HBOS dividentd cleared into my bank on 15 September

maxi_isa

I'm referring to the interim div on the ordinary shares.
I think you must have received something else.

stevetodd

maxi_isa wrote: »

I'm referring to the interim div on the ordinary shares.
I think you must have received something else.

I assumed that what it was, although I must say that although I own shares, the only HBOS (or perhaps related) are some free ones due to having a mortgage with BM (or maybe another institution), so maybe there are diffrent, to be honest they were only worth £400-£500 when I got them so I didn't take much notice.

jrob_3

Yes it's still going ahead. The documentation on the Lloyds TSB website says:

"HBOS has further agreed that the number of shares to be issued pursuant to the capitalisation issue being implemented in lieu of its 2008 interim dividend will be calculated on the basis of 232 pence per HBOS share, being the value per HBOS share implied by the terms of the Acquisition."

Furthermore:

"The exchange ratio assumes that HBOS will not declare or pay any dividend after the date of this announcement, other than pursuant to the capitalisation issue to be implemented in lieu of the HBOS 2008 interim dividend."

In any case, they have indicated that the Acquisition will be completed at the end of 2008 or in early 2009. The interim dividend as I understand it is to be paid at the beginning of October 2008.

maxi_isa

Many thanks jrob.

frames1_uk

may be a daft question, but does this mean that my HBOS shares will be compulsorily purchased?

Etccarmageddon

yes compulsory to give up your shares.

doubtingthomas_2

I am not sure about the compulsory bit as the takeover has to be approved by the shareholders
and the UK shareholders association has posted a press release worth a read

The offer appears to be only about half of the net asset value which is the usual benchmark for the minimum
value of a bank.

http://www.uksa.org.uk/UKSA_Press067_HBOS.pdf
This statement would imply that someone is getting a good deal-- and it's not the shareholder


Not being au fait with all this- and the share price has rallied-what happens if the shareholders vote NO ???

roddydogs

Had 400 shares via Birm Midshires-are these the same, what are they worth now?

cookie_monster

Was hoping to keep hold of my halifax shares, oh well some extra spending money coming in then.