Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Lloyds reiterates dividend wish as FSA battle brews

Lloyds reiterates dividend wish as FSA battle brews

Lloyds Banking Group has reiterated its desire to pay a dividend amid reports the Financial Services Authority will block a payout.

In a statement the bank said: 'We have always said we would like to recommence dividend payments, when the financial position of the Group and market conditions permit, and after regulatory capital requirements are defined and prudently met. We work productively with all regulators in that respect.'

The bank has withheld its dividend since the state bought a 43% stake in the lender at the height of the financial crisis in 2008.

According to the Sunday TimesLloyds chief executive Antonio Horta-Osorio (pictured) wants to pay a small dividend from the profit it expects to make next year, which would be perceived as a sign of its return to health.

However, the paper says the City watchdog is threatening to block the move on the view the bank should store its capital to protect itself from a break-up in the eurozone.

At 9.40am shares in Lloyds were 1.75% weaker at 37.15p.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Biotech Growth: we will ride out this storm

Biotech Growth: we will ride out this storm

Geoffrey Hsu of Biotech Growth Trust says the sell-off in biotechnology stocks represents a buying opportunity for long-term investors.

Play Picton: the UK property hotspots for rental income

Picton: the UK property hotspots for rental income

Picton Property Income CEO Michael Morris reveals how he is planning to ride the ‘ripple effect’ as UK economic growth spills out from the capital across the country.

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

This week Brewin Dolphin's head of research talks to Mike Riddell, fund manager at Allianz Global Investors, about the forces driving bonds markets in a tumultuous week for markets.

Your Business: Cover Star Club

Profile: 'what we are doing at Mosaic is Darwinian'

Profile: 'what we are doing at Mosaic is Darwinian'

The changes in financial services over the last few years may leave some destitute warns Marco Sambucci of Mosaic Money Management

Wealth Manager on Twitter