17 Nov | Sale – Lloyds Banking Group
We sold all 1,811 shares last Thursday (11th November 2010) for 67.67 pence a pop for a return of £1,225.50.
Our original purchase of Lloyds was made back in June 2009 when we took on 774 shares at 67.19 pence a share. We bought in the hope that Lloyds would follow Barclays bounce back from bordering bankruptcy after the financial meltdown of the preceding months, but alas, we’re pretty much back where we began.
What turned Lloyds into a winner for us over the journey was the rights issue back in December 2009. This allowed us to top up on our holding at the bargain basement price of 37 pence a share. We splurged on 1,037 shares – our entire entitlement – and in the process lowered our average holding in Lloyds to just below 50 pence a share.
So at the end of the day we cleared in the region of 18 pence a share on our holding of 1,811 shares or £326 in round pound terms. It’s better than bank interest!