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| Version 3 | Version 4 |
|---|---|
| Turbulent ride for Northern Rock | Turbulent ride for Northern Rock |
| (about 1 hour later) | |
| Shares in Northern Rock have had a roller-coaster time in Monday morning trading, on the back of reports the bank may struggle to find a buyer. | |
| Shares fell 14% in early trade, then moved 5% ahead, fluctuated over the morning, and were 5.71% down at midday. | |
| Northern Rock's shares have tumbled in the past week after the Bank of England said earlier this month it was helping the bank through a credit crisis. | Northern Rock's shares have tumbled in the past week after the Bank of England said earlier this month it was helping the bank through a credit crisis. |
| That kicked off a run by depositors who queued up to withdraw their funds. | That kicked off a run by depositors who queued up to withdraw their funds. |
| And, despite the government's pledge to guarantee all Northern Rock deposits held in accounts as of midnight, 19 September, its share price continued to fall at the end of last week. | And, despite the government's pledge to guarantee all Northern Rock deposits held in accounts as of midnight, 19 September, its share price continued to fall at the end of last week. |
| Negative publicity | Negative publicity |
| Following the run on the bank, Northern Rock's future as an independent company is considered to be untenable. | Following the run on the bank, Northern Rock's future as an independent company is considered to be untenable. |
| This is despite the fact that the bank has said business has returned to normal. | This is despite the fact that the bank has said business has returned to normal. |
| There are concerns about whether a buyer will emerge given the negative publicity surrounding the firm and worries over its future business prospects. | There are concerns about whether a buyer will emerge given the negative publicity surrounding the firm and worries over its future business prospects. |
| And media reports at the weekend said that at least 12 of the UK and Europe's biggest banks had now decided not to buy the Newcastle-based lender. | And media reports at the weekend said that at least 12 of the UK and Europe's biggest banks had now decided not to buy the Newcastle-based lender. |
| Northern Rock's shares have fallen from a high of £12.51 in February. | Northern Rock's shares have fallen from a high of £12.51 in February. |
| Meanwhile, the banks says it still intends to pay shareholders an improved dividend despite its recent worries. | Meanwhile, the banks says it still intends to pay shareholders an improved dividend despite its recent worries. |
| Northern Rock says it will pay the 14.2p a share dividend announced on 25 July, for all investors on the share register by the end of Friday. | Northern Rock says it will pay the 14.2p a share dividend announced on 25 July, for all investors on the share register by the end of Friday. |
| The lender is understood to have taken legal advice over the dividend payment. | The lender is understood to have taken legal advice over the dividend payment. |