Lloyds to Pay Dividend this Year

Lloyds Bank, which is part owned by the tax payer, is expected to reinstate a dividend this year - despite revealing the total cost of PPI claims will total £10 billion

Alliance News 3 February, 2014 | 9:22AM
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Lloyds Banking Group (LLOY) has said it expects to make a "small" pre-tax profit for the full year ended December 31, 2013, after booking a further £1.93 billion in PPI and interest-rate-hedging product provisions.

In a trading update ahead of the bank's full-year results due February 13, Lloyds said it expects to make a £6.2 billion underlying profit, which is ahead of the £5.84 billion analyst consensus forecast used by the bank. For 2012, Lloyds underlying profit was £2.61 billion.

Lloyds also its net interest margin improved to 2.12% in 2013 from 1.93% in 2012.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Lloyds Banking Group PLC46.48 GBP0.00Rating
Sainsbury (J) PLC278.20 GBP0.00Rating

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