Dividends

UK and US dividends payments information.


  • Description

    Dividend (per ADR)

    Record date

    Payment date

    Description

    Final 2021

    Dividend (per ADR)

    $0.0646

    Record date

    08/04/2022

    Payment date

    31/05/2022

    Description

    Interim 2021

    Dividend (per ADR)

    $0.0370

    Record date

    09/08/2021

    Payment date

    23/09/2021

    Description

    Final 2020

    Dividend (per ADR)

    $0.0322

    Record date

    16/04/2021

    Payment date

    04/06/2021

    Description

    Interim 2020

    Dividend (per ADR)

    -

    Record date

    n/a

    Payment date

    n/a

    Description

    Final 2019

    Dividend (per ADR)

    -

    Record date

    n/a

    Payment date

    n/a

    Description

    Interim 2019

    Dividend (per ADR)

    $0.0556

    Record date

    12/08/2019

    Payment date

    23/09/2019

    Description

    Final 2018

    Dividend (per ADR)

    $0.1084

    Record date

    05/04/2019

    Payment date

    31/05/2019

    Description

    Interim 2018

    Dividend (per ADR)

    $0.0555

    Record date

    17/08/2018

    Payment date

    09/10/2018

    Description

    Final 2017

    Dividend (per ADR)

    $0.1089

    Record date

    20/04/2018

    Payment date

    08/06/2018

    Description

    Interim 2017

    Dividend (per ADR)

    $0.0529

    Record date

    11/08/2017

    Payment date

    10/10/2017

    Description

    Special 2016

    Dividend (per ADR)

    $0.0259

    Record date

    07/04/2017

    Payment date

    26/05/2017

    Description

    Final 2016

    Dividend (per ADR)

    $0.0882

    Record date

    07/04/2017

    Payment date

    26/05/2017

    Description

    Interim 2016

    Dividend (per ADR)

    $0.0441

    Record date

    12/08/2016

    Payment date

    11/10/2016

    Description

    Special 2015

    Dividend (per ADR)

    $0.0279

    Record date

    08/04/2016

    Payment date

    27/05/2016

    Description

    Final 2015

    Dividend (per ADR)

    $0.0836

    Record date

    08/04/2016

    Payment date

    27/05/2016

    Description

    Interim 2015

    Dividend (per ADR)

    $0.0455

    Record date

    14/08/2015

    Payment date

    08/10/2015

    Description

    Final 2014

    Dividend (per ADR)

    $0.0465

    Record date

    07/04/2015

    Payment date

    29/05/2015

    Description

    Interim 2014

    Dividend (per ADR)

    -

    Record date

    n/a

    Payment date

    n/a

    Description

    Final 2013

    Dividend (per ADR)

    -

    Record date

    n/a

    Payment date

    n/a

    Description

    Interim 2013

    Dividend (per ADR)

    -

    Record date

    n/a

    Payment date

    n/a

    Description

    Final 2012

    Dividend (per ADR)

    -

    Record date

    n/a

    Payment date

    n/a

    Description

    Interim 2012

    Dividend (per ADR)

    -

    Record date

    n/a

    Payment date

    n/a

    Description

    Final 2011

    Dividend (per ADR)

    -

    Record date

    n/a

    Payment date

    n/a

    Description

    Interim 2011

    Dividend (per ADR)

    -

    Record date

    n/a

    Payment date

    n/a

    Description

    Final 2010

    Dividend (per ADR)

    -

    Record date

    n/a

    Payment date

    n/a

    Description

    Interim 2010

    Dividend (per ADR)

    -

    Record date

    n/a

    Payment date

    n/a

    Description

    Final 2009

    Dividend (per ADR)

    -

    Record date

    n/a

    Payment date

    n/a

    Description

    Interim 2009

    Dividend (per ADR)

    -

    Record date

    n/a

    Payment date

    n/a

    Description

    Final 2008

    Dividend (per ADR)

    -

    Record date

    n/a

    Payment date

    n/a

    Description

    Interim 2008

    Dividend (per ADR)

    $0.8062

    Record date

    08/08/2008

    Payment date

    14/10/2008

    Description

    Final 2007

    Dividend (per ADR)

    $1.9294

    Record date

    07/03/2008

    Payment date

    19/05/2008

    Description

    Interim 2007

    Dividend (per ADR)

    $0.9115

    Record date

    10/08/2007

    Payment date

    15/10/2007

    Description

    Final 2006

    Dividend (per ADR)

    $1.8697

    Record date

    09/03/2007

    Payment date

    14/05/2007

    Description

    Interim 2006

    Dividend (per ADR)

    $0.8047

    Record date

    11/08/2006

    Payment date

    16/10/2006

    Description

    Final 2005

    Dividend (per ADR)

    $1.7264

    Record date

    10/03/2006

    Payment date

    15/05/2006

    Description

    Interim 2005

    Dividend (per ADR)

    $0.7527

    Record date

    12/08/2005

    Payment date

    17/10/2005

    Description

    Final 2004

    Dividend (per ADR)

    $1.7792

    Record date

    18/03/2005

    Payment date

    16/05/2004

    Description

    Interim 2004

    Dividend (per ADR)

    $0.7601

    Record date

    13/08/2004

    Payment date

    18/10/2004

    Note:

    Interim 2020 - In order to help the Group 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 we would undertake no quarterly or interim dividend payments, accrual of dividends, or share buybacks on ordinary shares.

    Final 2019 - 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.

    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.

  • Lloyds Banking Group plc (the ‘Company’) makes available a dividend reinvestment plan (‘DRIP’) to shareholders who wish to use their cash dividend to purchase shares in the Company.

    What is the DRIP?

    The DRIP is a low cost way to use your dividend payments to purchase additional shares in the Company, enabling you to increase your shareholding in a convenient and cost-effective manner.

    The DRIP is operated by Equiniti Financial Services Limited (‘EFSL’). Rather than receiving a dividend cheque or having a bank account credited with a cash dividend payment, EFSL will use the dividends payable to DRIP participants to purchase shares on their behalf in the market, under a special low-cost dealing arrangement.

    The fees and charges are located in the DRIP Terms & Conditions.

    Joining the DRIP

    Any shareholder wishing to join the DRIP should contact EFSL for an application form, using the contact details provided below.

    Leaving the DRIP

    Any shareholder who is a participant in the DRIP and who wishes to withdraw from the plan should contact EFSL for a revocation form, using the contact details provided below.

    DRIP Invitation Booklet

    The DRIP Invitation Booklet explains how the DRIP works and what it means for shareholders, including some frequently asked questions.

    DRIP Terms & Conditions

    The DRIP Terms & Conditions can be accessed here. They are also available in hardcopy through EFSL using the contact details provided below.

    Online: www.shareview.co.uk/info/drip

    Tel: +44 871 384 2990

    Textphone: +44 871 384 2255

    Calls to 0871 numbers are charged at 8p per minute from a BT landline, calls from mobiles and other networks may vary.

    Each of these documents should be considered by shareholders before making any decision regarding the DRIP. Participation in the DRIP is optional and these documents do not constitute advice to join, continue to participate in, or withdraw from the DRIP. If you have any doubt about the action you should take, it is recommended that you consult your stockbroker, solicitor, accountant or other independent professional adviser authorised under the Financial Services and Markets Act 2000.

  • The final ordinary dividend of £0.0133 per share seems very low, given your excess capital position, and the almost 11% drop in the share price on the day of the announcement seems to reflect dividend disappointment. Why wasn’t it higher, and/or a special dividend paid? 

    • We note that at 2p/share, the total FY 2021 dividend represents a yield of over 4%, which compares favourably to the FTSE100 average yield. This was also in line with the market’s consensus expectations, which are available on our website.
    • The Board needs to manage the different preferences of the Group’s investor base and hence part of the capital return in respect of 2021 was in the form of a newly-announced £2 billion share buyback (this is the preferred form of excess capital return for many of our institutional shareholders, particularly given the share price trading below book value), bringing total capital return in respect of 2021 to up to £3.4 billion, equivalent to 4.82p per share. 
    • Regarding share price performance on the day of results announcement, it is worth noting that the FTSE 350 banks index also fell by c.7% on the day, reflecting wider geopolitical concerns given the Russian invasion of Ukraine. We think that the underperformance of our share price versus peers reflects increased cost expectations given increased investment as part of our new strategy launch, which should however in turn generate higher revenues and shareholder returns over 2024-26.
    • It is worth noting that the share price increased c.7% on the day following results.

    Is the Group still paying quarterly dividends? 

    • No, the Group has reverted to twice-yearly dividends (this was announced at the HY 21 results) due to a number of reasons
      - simpler capital planning – having fewer distribution points makes capital planning simpler and maintains average capital levels through the year,
      - simplicity – most FTSE100 companies pay half yearly dividends, and this is easier for investors as it means less printing/cashing of cheques,
      - sustainability – reducing the amount of mailing/printing of cheques for what would generally be small values. 
    • In practice, this is simply a question of timing and makes no difference to the overall quantum of capital returns that an investor may expect.

    How does your final dividend of £0.133 per share relate to your progressive dividend policy when it is much lower than the previous dividend? 

    • The Group is committed to a progressive and sustainable dividend policy. You can therefore expect to see progression in the dividend per share in 2022 and beyond, in line with this policy, from the starting point of total dividend of 2p per share paid in FY21.
    • The ordinary dividend alone constituted a yield of 4% for 2021, while it would be around 10% including the share buyback, both comparing favourably with other FTSE 100 stocks.

    A few years ago it was stated the Group would pay approximately 50% of statutory profits in dividends. A total dividend payment of 2p is not anywhere near 50% of statutory profits for 2021. Has the bank changed its dividend policy? 

    • The Group has not given a specific payout ratio target but is committed to a progressive and sustainable ordinary dividend policy, whilst maintaining the flexibility to return surplus capital through buybacks or special dividends. Given the total ordinary dividend of 2p per share and the intended ordinary share buyback, equivalent to up to 2.82p per share, the total capital return in respect of 2021 will be up to 4.82p per share, which is equivalent to £3.4 billion or c.10% of current market capitalization. 
    • It is worth noting that 4.82p per share equates to 64% of our earnings per share of 7.5p.

    Two years ago the Group dividend was postponed at the request of the Bank of England because of Covid-19. When will this ‘postponed’ dividend be paid?

    • The Bank of England requested UK banks not to pay dividends due to Covid-19. Accordingly, on 1 April 2020 the Group announced that it would suspend dividend payments. Furthermore, the Board decided that until the end of 2020, the Group would undertake no quarterly or interim dividend payments, accrual of dividends, or share buybacks. The FY19 final dividend was therefore cancelled and we never made any statements about it being postponed. 
    • Once this ban was lifted, the Group was then able to reintroduce dividend payments with a final dividend of 0.57p at the end of 2020. We then reinstated a progressive and sustainable ordinary dividend policy with an interim ordinary dividend of 0.67p per share announced at the 2021 half year results in July 2021.  The additional capital retained has in part enabled us to announce the share buyback of £2 billion. 

    Why are you buying back shares when you just hold them in Treasury instead of cancelling them and then issue shares to employees so that it does not reduce the shares in issue?

    • When we buy shares in the market, they are cancelled and not held in treasury; any issuance is an entirely separate transaction and unrelated to the buyback.
    • The effect of a buyback is to reduce the total number of shares in issue. It is expected that shareholders who retain their shares in the company will benefit from the share buyback programme as they will own an increased proportion of the total shares in the company and should therefore see an increase in the dividend per share going forward given the reduced number of shares in issue. 
    • Our issued share capital fell in 2019 (from 71,790 to 70,713m shares), the most recent year in which we undertook a share buyback. In the event of future share buybacks, you would generally expect our share count to reduce. Share buybacks can be an effective use of excess capital, particularly when the shares are trading below book value. Assuming a £2 billion buyback and a 50p share price, our share count would reduce by 4,000m shares.

Description

Dividend (per share)

Ex dividend date

Record date

Payment date

Description

Final 2021

Dividend (per share)

1.33p

Ex dividend date

07/04/2022

Record date

08/04/2022

Payment date

19/05/2022

Description

Interim 2021

Dividend (per share)

0.67p

Ex dividend date

05/08/2021

Record date

06/08/2021

Payment date

13/09/2021

Description

Final 2020

Dividend (per share)

0.57p

Ex dividend date

15/04/2021

Record date

16/04/2021

Payment date

25/05/2021

Description

Interim 2020

Dividend (per share)

-

Ex dividend date

n/a

Record date

n/a

Payment date

n/a

Description

Final 2019

Dividend (per share)

-

Ex dividend date

n/a

Record date

n/a

Payment date

n/a

Description

Interim 2019

Dividend (per share)

1.12p

Ex dividend date

08/08/2019

Record date

09/08/2019

Payment date

13/09/2019

Description

Final 2018

Dividend (per share)

2.14p

Ex dividend date

04/04/2019

Record date

05/04/2019

Payment date

21/05/2019

Description

Interim 2018

Dividend (per share)

1.07p

Ex dividend date

16/08/2018

Record date

17/08/2018

Payment date

26/09/2018

Description

Final 2017

Dividend (per share)

2.05p

Ex dividend date

19/04//2018

Record date

20/04/2018

Payment date

29/05/2018

Description

Interim 2017

Dividend (per share)

1.00p

Ex dividend date

10/08/2017

Record date

11/08/2017

Payment date

27/09/2017

Description

Special 2016

Dividend (per share)

0.50p

Ex dividend date

06/04/2017

Record date

07/04/2017

Payment date

16/05/2017

Description

Final 2016

Dividend (per share)

1.70p

Ex dividend date

06/04/2017

Record date

07/04/2017

Payment date

16/05/2017

Description

Interim 2016

Dividend (per share)

0.85p

Ex dividend date

11/08/2016

Record date

12/08/2016

Payment date

28/09/2016

Description

Special 2015

Dividend (per share)

0.50p

Ex dividend date

07/04/2016

Record date

08/04/2016

Payment date

17/05/2016

Description

Final 2015

Dividend (per share)

1.50p

Ex dividend date

07/04/2016

Record date

08/04/2016

Payment date

17/05/2016

Description

Interim 2015

Dividend (per share)

0.75p

Ex dividend date

13/08/2015

Record date

14/08/2015

Payment date

28/09/2015

Description

Final 2014

Dividend (per share)

0.75p

Ex dividend date

02/04/2015

Record date

07/04/2015

Payment date

19/05/2015

Description

Interim 2014

Dividend (per share)

-

Ex dividend date

n/a

Record date

n/a

Payment date

n/a

Description

Final 2013

Dividend (per share)

-

Ex dividend date

n/a

Record date

n/a

Payment date

n/a

Description

Interim 2013

Dividend (per share)

-

Ex dividend date

n/a

Record date

n/a

Payment date

n/a

Description

Final 2012

Dividend (per share)

-

Ex dividend date

n/a

Record date

n/a

Payment date

n/a

Description

Interim 2012

Dividend (per share)

-

Ex dividend date

n/a

Record date

n/a

Payment date

n/a

Description

Final 2011

Dividend (per share)

-

Ex dividend date

n/a

Record date

n/a

Payment date

n/a

Description

Interim 2011

Dividend (per share)

-

Ex dividend date

n/a

Record date

n/a

Payment date

n/a

Description

Final 2010

Dividend (per share)

-

Ex dividend date

n/a

Record date

n/a

Payment date

n/a

Description

Interim 2010

Dividend (per share)

-

Ex dividend date

n/a

Record date

n/a

Payment date

n/a

Description

Final 2009

Dividend (per share)

-

Ex dividend date

n/a

Record date

n/a

Payment date

n/a

Description

Interim 2009

Dividend (per share)

-

Ex dividend date

n/a

Record date

n/a

Payment date

n/a

Description

Final 2008

Dividend (per share)

-

Ex dividend date

n/a

Record date

n/a

Payment date

n/a

Description

Interim 2008

Dividend (per share)

11.4p

Ex dividend date

06/08/2008

Record date

08/08/2008

Payment date

01/10/2008

Description

Final 2007

Dividend (per share)

24.7p

Ex dividend date

05/03/2008

Record date

07/03/2008

Payment date

07/05/2008

Description

Interim 2007

Dividend (per share)

11.2p

Ex dividend date

08/08/2007

Record date

10/08/2007

Payment date

03/10/2007

Description

Final 2006

Dividend (per share)

23.5p

Ex dividend date

07/03/2007

Record date

09/03/2007

Payment date

02/05/2007

Description

Interim 2006

Dividend (per share)

10.7p

Ex dividend date

09/08/2006

Record date

11/08/2006

Payment date

04/10/2006

Description

Final 2005

Dividend (per share)

23.5p

Ex dividend date

08/03/2006

Record date

10/03/2006

Payment date

03/05/2006

Description

Interim 2005

Dividend (per share)

10.7p

Ex dividend date

10/08/2005

Record date

12/08/2005

Payment date

05/10/2005

Description

Final 2004

Dividend (per share)

23.5p

Ex dividend date

16/03/2005

Record date

18/03/2005

Payment date

04/05/2005

Note:

Interim 2020 - In order to help the Group 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 we would undertake no quarterly or interim dividend payments, accrual of dividends, or share buybacks on ordinary shares.

Final 2019 - 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.

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.

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