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Lloyds confirms it remains on course to reinstate dividend in H2

by David Campbell on May 01, 2014 at 07:49

Lloyds confirms it remains on course to reinstate dividend in H2

Lloyds has confirmed it remains on track to seek to return to dividend payment in the second half of this year following a 22% increase in underlying profit to £1.8 billion in the first quarter.

At 8.23, shares in Lloyds were up 3.17% at 77.97p.

‘This improvement was driven by net interest income in our key markets as well as a reduction in costs of 5% and in the impairment charge of 57%,’ said chief executive Antonio Horta-Osorio. 

‘The group made a statutory profit before tax of £1.36 billion, compared to a statutory loss of £1.2 billion in the fourth quarter of 2013.’

The company’s loan to deposit ratio fell from 113% to 111% over the quarter, down from 119% in the first quarter of 2013.  

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