Lloyds Bank brushes off Brexit fears with bumper dividend, buyback plan [Reuters (UK)]
Lloyds Banking Group Plc American Depositary Shares (LYG)
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Source: Reuters
Lloyds Bank brushes off Brexit fears with bumper dividend, buyback plan | Reuters 2 Min Read LONDON (Reuters) - Lloyds Banking Group shrugged off mounting concerns over Brexit to unveil a 4 billion pounds dividend and share buyback bonanza for investors on Wednesday, despite booking weaker-than-expected growth in profits for 2018. Britain’s biggest mortgage lender posted a 24 percent rise in net profits to 4.4 billion pounds, below expectations of 4.6 billion pounds, according to a company-provided average of analyst forecasts. It pledged to pay a 3.21 pence total dividence and unveiled a 1.75 billion pound share buyback, which would still leave the bank’s core capital ratio - a key measure of financial strength - at 13.9 percent. The bank also said it had made 1 billion pounds of strategic investment in digitising its business and bulking up its wealth management operations. Chief executive Ant?nio Horta Os?rio insisted Britain’s economy remained fundamentally strong despite widespre
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LYG
Sec Filings
- 4/18/24 - Form 6-K
- 4/17/24 - Form 6-K
- 4/16/24 - Form 6-K
- LYG's page on the SEC website