LONDON: Lloyds Banking Group will pay its three million shareholders a dividend for the first time since the bank was bailed out by taxpayers in 2008, it announced today, alongside profits of £1.8billion.
Paying a dividend is considered a major milestone for the bank and boss António Horta-Osório received £11.5million last year. That included more than £7million from a long-term share-based plan connected to the bank’s performance for the three years since 2012, the bank revealed today.
The banking giant, which the state still owns almost a quarter of, includes both the Lloyds and Halifax brands. Chancellor George Osborne said: ‘Today’s results are another major milestone for the recovery of the British economy from the great recession and the bank bailouts’.
Total dividend payments will amount to £535million after the bank announced the fourfold rise in annual profits.
On Monday, the government said it had sold a further 1 per cent stake in Lloyds for around £500million, reducing its stake to 23.9 per cent.
Lloyds will pay a dividend of 0.75p per share, amounting to £535million. Unsurprisingly, as the biggest shareholder, the government will pick up the lion’s share of the payout, picking up £130million.
LONDON: Lloyds Banking Group will pay its three million shareholders a dividend for the first time since the bank was bailed out by taxpayers in 2008, it announced today, alongside profits of £1.8billion.
Paying a dividend is considered a major milestone for the bank and boss António Horta-Osório received £11.5million last year. That included more than £7million from a long-term share-based plan connected to the bank’s performance for the three years since 2012, the bank revealed today.
The banking giant, which the state still owns almost a quarter of, includes both the Lloyds and Halifax brands. Chancellor George Osborne said: ‘Today’s results are another major milestone for the recovery of the British economy from the great recession and the bank bailouts’.
Total dividend payments will amount to £535million after the bank announced the fourfold rise in annual profits.
On Monday, the government said it had sold a further 1 per cent stake in Lloyds for around £500million, reducing its stake to 23.9 per cent.
Lloyds will pay a dividend of 0.75p per share, amounting to £535million. Unsurprisingly, as the biggest shareholder, the government will pick up the lion’s share of the payout, picking up £130million.
