Dividends

Date this page was last updated: 13 May 2020


In order to help us to serve the needs of businesses and households through the extraordinary challenges presented by COVID-19, the board has decided that until the end of 2020 we will undertake no quarterly or interim dividend payments, accrual of dividends, or share buybacks on ordinary shares.

In addition, in response to a request from the Prudential Regulation Authority and to preserve additional capital for use in serving our clients, the board has agreed to cancel payment of the final 2019 dividend in relation to ordinary shares. Accordingly, resolution 17 in relation to the declaration of that dividend will be withdrawn from the Annual General Meeting, scheduled to take place on 21 May 2020. 

Our Board will decide on any dividend policy and amounts at year-end 2020.

While the Board understand the cancellation of this dividend will be disappointing to shareholders, we believe it was appropriate to agree to this in the current exceptional circumstances. While we expect that the months ahead will be exceptionally challenging for businesses and households across the UK, we remain focused on our purpose of Helping Britain Prosper. We are supporting our customers with a raft of measures to help minimise the financial impact of the global pandemic on households, businesses and communities. You can read more about these measures here

The Group has published a letter to shareholders and this is available here:

Important Update to Chairman's Letter: Dividend Withdrawal and AGM Arrangements

Thank you for your understanding as we work together to keep our loved ones safe and continue to support our customers, colleagues and shareholders during this difficult time.


Why have you cancelled both your 2019 final dividend and interim 2020 dividends?

In order to help us serve the needs of businesses and households through the extraordinary challenges presented by the COVID-19 pandemic, the Board decided that, until the end of 2020, the Group will undertake no quarterly or interim dividend payments, accrual of dividends, or share buybacks on ordinary shares.

In addition, in response to a request from our regulator, the Prudential Regulation Authority, and to preserve additional capital for use in serving our customers, the Board agreed to cancel payment of the final 2019 dividend in relation to ordinary shares.

 

Where can I find a copy of the Prudential Regulation Authority’s request to Lloyds Banking Group? 

A copy of the letter from Sam Woods, Deputy Governor and CEO of the Prudential Regulation Authority, to Antonio Horta-Osorio, Group Chief Executive of Lloyds Banking Group, is available on the Prudential Regulation Authority’s website here.

 
When will you resume paying dividends?

The Board will decide on any dividend policy and amounts at year-end 2020.


Does the cancellation of dividends apply to preference shares?

Preference shares are not impacted by the dividend suspension. The coupons on preference shares are discretionary, but ceasing payments on ordinary dividends does not impact the Group’s ability to pay coupons.

Please see the information relating to our announcement on 31 March 2020

Description Dividend (per share) Ex Dividend Date Record Date Payment Date

Interim 2020

-

n/a

n/a

n/a

Final 2019

-

n/a

n/a

n/a

Interim 2019

1.12p

08/08/2019

09/08/2019

13/09/2019

Final 2018

2.14p

04/04/2019

05/04/2019

21/05/2019

Interim 2018

1.07p

16/08/2018

17/08/2018

26/09/2018

Final 2017

2.05p

19/04/2018

20/04/2018

29/05/2018

Interim 2017

1.00p

10/08/2017

11/08/2017

27/09/2017

Special 2016

0.50p

06/04/2017

07/04/2017

16/05/2017

Final 2016

1.70p

06/04/2017

07/04/2017

16/05/2017

Interim 2016

0.85p

11/08/2016

12/08/2016

28/09/2016

Special 2015

0.50p

07/04/2016

08/04/2016

17/05/2016

Final 2015

1.50p

07/04/2016

08/04/2016

17/05/2016

Interim 2015

0.75p

13/08/2015

14/08/2015

28/09/2015

Final 2014

0.75p

02/04/2015

07/04/2015

19/05/2015

Interim 2014

-

n/a

n/a

n/a

Final 2013

-

n/a

n/a

n/a

Interim 2013

-

n/a

n/a

n/a

Final 2012

-

n/a

n/a

n/a

Interim 2012

-

n/a

n/a

n/a

Final 2011

-

n/a

n/a

n/a

Interim 2011

-

n/a

n/a

n/a

Final 2010

-

n/a

n/a

n/a

Interim 2010

-

n/a

n/a

n/a

Final 2009

-

n/a

n/a

n/a

Interim 2009

-

n/a

n/a

n/a

Final 2008

-

n/a

n/a

n/a

Interim 2008

11.4p

06/08/2008

08/08/2008

01/10/2008

Final 2007

24.7p

05/03/2008

07/03/2008

07/05/2008

Interim 2007

11.2p

08/08/2007

10/08/2007

03/10/2007

Final 2006

23.5p

07/03/2007

09/03/2007

02/05/2007

Interim 2006

10.7p

09/08/2006

11/08/2006

04/10/2006

Final 2005

23.5p

08/03/2006

10/03/2006

03/05/2006

Interim 2005

10.7p

10/08/2005

12/08/2005

05/10/2005

Final 2004

23.5p

16/03/2005

18/03/2005

04/05/2005

Note
Interim 2009, Final 2009, Interim 2010, Final 2010, Interim 2011 - The Group was prevented from paying dividends on its ordinary shares as a result of the European Commission state aid review.
Final 2008 - The Group was prevented from paying dividends on its ordinary shares whilst the HM Treasury preference shares issued as part of the HM Treasury recapitalisation scheme were in existence.

Please see the information relating to our announcement on 31 March 2020

Description Dividend (per ADR) Record Date Payment Date

Interim 2020

-

n/a

n/a

Final 2019

-

n/a

n/a

Interim 2019

$0.0556

12/08/2019

23/09/2019

Final 2018

$0.1084

05/04/2019

31/05/2019

Interim 2018

$0.0555

17/08/2018

09/10/2018

Final 2017

$0.1089

20/04/2018

08/06/2018

Interim 2017

$0.0529

11/08/2017

10/10/2017

Special 2016

$0.0259

07/04/2017

26/05/2017

Final 2016

$0.0882

07/04/2017

26/05/2017

Interim 2016

$0.0441

12/08/2016

11/10/2016

Special 2015

$0.0279

08/04/2016

27/05/2016

Final 2015

$0.0836

08/04/2016

27/05/2016

Interim 2015

$0.0455

14/08/2015

08/10/2015

Final 2014

$0.0465

07/04/2015

29/05/2015

Interim 2014

-

n/a

n/a

Final 2013

-

n/a

n/a

Interim 2013

-

n/a

n/a

Final 2012

-

n/a

n/a

Interim 2012

-

n/a

n/a

Final 2011

-

n/a

n/a

Interim 2011

-

n/a

n/a

Final 2010

-

n/a

n/a

Interim 2010

-

n/a

n/a

Final 2009

-

n/a

n/a

Interim 2009

-

n/a

n/a

Final 2008

-

n/a

n/a

Interim 2008

$0.8062

08/08/2008

14/10/2008

Final 2007

$1.9294

07/03/2008

19/05/2008

Interim 2007

$0.9115

10/08/2007

15/10/2007

Final 2006

$1.8697

09/03/2007

14/05/2007

Interim 2006

$0.8047

11/08/2006

16/10/2006

Final 2005

$1.7264

10/03/2006

15/05/2006

Interim 2005

$0.7527

12/08/2005

17/10/2005

Final 2004

$1.7792

18/03/2005

16/05/2004

Interim 2004

$0.7601

13/08/2004

18/10/2004

Note
Interim 2009, Final 2009, Interim 2010, Final 2010, Interim 2011 - The Group was prevented from paying dividends on its ordinary shares as a result of the European Commission state aid review.
Final 2008 - The Group was prevented from paying dividends on its ordinary shares whilst the HM Treasury preference shares issued as part of the HM Treasury recapitalisation scheme were in existence.