The year of the windfall
Article Abstract:
Members of many UK building societies are benefiting from conversion windfalls. A windfall gain of some 19 billion pounds sterling is to be shared between over 16 billion people. Shareholders could sell, especially as stock market prices are high, but prices could be depressed if a large number of people sell their shares. The income raised can be used to repay debt or for holidays and home improvements. New shareholders could also retain their shares since the societies should benefit from a stronger housing market and many will be able to reduce costs and diversify.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Alliance and Leicester windfall tactics
Article Abstract:
Alliance and Leicester plans a flotation in 1997 and eligible members will receive free shares worth some 1,000 pounds sterling. The windfall scheme offers the same to all savers no matter how many accounts they hold and how much is held, so long as they have at least 100 pounds in an account in Oct 1996 and have held an account since Dec 1995. Saver can move some funds to other building societies offering better rates. Alliance and Leicester also needs approval from its members in order to carry out the flotation.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Cashback extra
Article Abstract:
Alliance and Leicester and Halifax may return cash to shareholders if they have no other use for this excess capital. A special dividend may be paid or a share buyback could be carried out. Both building societies have high solvency ratios in terms of capital related to assests, so have cash that could be better employed. Shareholders may not necessarily benefit since the capital could be spent on acquiring a new business or on expanding the existing business.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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