Government moves income support services online
Isle of Man residents can now apply and claim income support online as part of the government's plans to modernise its processes.
Several services have already moved online as part of the move, including incapacity benefits in 2023.
The updated income support process will also mean people can upload supporting documentation digitally.
Treasury Minister Alex Allinson said: "Whilst people can still apply using paper forms, online services will help simplify the system."
He said: "The Social Security team have been working to modernise the claiming of benefits, making the online system responsive and a more efficient way to apply."
The process would also mean the team would be notified of any changes in personal circumstances, he explained.
A Treasury spokesman said a number of "further improvements" were planned over the next few months "to enable ongoing income support claims to be reviewed online".
The next area to be digitised is employed person's and jobseekers allowances, due to be launched within the next 18 months, he said.
Read more stories from the Isle of Man on the BBC, watch BBC North West Tonight on BBC iPlayer and follow BBC Isle of Man on Facebook and X.
Driving licence services to go digital from July
Government centre offers help with digital skills
Launch of online form for incapacity benefit
Online social security messaging platform launched
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Yahoo
40 minutes ago
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In November, Nike increased its quarterly dividend by 8%, marking the 23rd consecutive year the company has hiked the payout. In a couple more years, Nike is likely to join an exclusive club -- the Dividend Aristocrats®, which are S&P 500 companies that have increased their payouts for a minimum of 25 straight years. (The term Dividend Aristocrats® is a registered trademark of Standard & Poor's Financial Services LLC.) Its ascension into that group will give Nike added some credibility among dividend investors. Nike also has a trailing 12-month free cash flow yield of 5.66%, more than double its current dividend yield. Nike has a good dividend track record and clear incentives to keep raising its payouts to reward shareholders for their patience. If its turnaround is successful, that should also enable the company to grow earnings and free cash flow, which will also bolster its capacity to pay higher dividends. If you've followed Wells Fargo (NYSE: WFC), then you know that the bank has been on a bumpy ride over the last decade. In 2016, it came to light that large numbers of employees at the bank had been opening banking and credit card accounts in customers' names without those customers' authorization. The scandal evolved into a reputational nightmare for Wells Fargo and cost it billions of dollars in fines and lost profits. Regulators put various restrictions and consent orders on the bank to monitor its actions. In addition, the Federal Reserve in 2018 put an asset cap on it, preventing it from growing its balance sheet above $1.95 trillion -- limiting its ability to expand, pursue acquisitions, and make more money. In 2019, the bank brought on Charlie Scharf to take over as CEO, and he did a tremendous amount of work to overhaul the bank's regulatory infrastructure and leadership team. Scharf also significantly cut expenses, sold off non-core assets, and ramped up higher-returning businesses like investment banking and credit card lending. This year, after Trump returned to the White House, banking regulators under his administration quickly terminated the consent orders that were put in place to monitor its behavior in the wake of the scandal, and just recently lifted the asset cap. That's a massive deal for the bank, which can now begin to grow its balance sheet again and go on the offensive in the financial services market. During the pandemic, Wells Fargo was one of the few banks forced to cut its dividend due to regulations put into place by the Federal Reserve. While the bank has been able to regrow its payout, its yield still sits in the bottom half of its peer group. Furthermore, broader deregulation of the banking sector from Trump and his administrators is likely on the way. I suspect the largest banks will eventually have much lower regulatory capital requirements than they have now, which will allow them to return more capital to shareholders. Furthermore, Wall Street analysts on average currently expect Wells Fargo to grow its diluted earnings per share by about 8% this year and by close to 14% next year, according to data provided by Visible Alpha. Over the last 12 months, Wells Fargo's dividends only consumed about 31% of earnings, so it should have plenty of opportunities to keep growing its payouts in the coming years. Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $363,030!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $38,088!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $674,395!* Right now, we're issuing 'Double Down' alerts for three incredible companies, available when you join , and there may not be another chance like this anytime soon.*Stock Advisor returns as of June 2, 2025 Wells Fargo is an advertising partner of Motley Fool Money. Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nike. The Motley Fool has a disclosure policy. 2 Dividend Stocks to Hold for the Next 2 Years was originally published by The Motley Fool