Lloyds Chairman: Hopes To Start Paying Dividends In 2012

Date : 11/26/2009 @ 10:42AM
Source : Dow Jones News
Stock : Lloyds Banking Grp. Plc American Depositary Shares (LYG)
Quote : 3.49  -0.01 (-0.29%) @ 9:39AM

Lloyds Chairman: Hopes To Start Paying Dividends In 2012

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Lloyds Banking Group PLC (LYG) hopes to start paying dividends as soon as a European Union ban on the payments is lifted in 2012, Chairman Win Bischoff said Thursday.

He told Dow Jones Newswires the bank will look to make the payments as soon as it can. The EU called a halt to any dividends for two years as a condition of approving Lloyds' GBP17 billion government bail-out.

Bischoff's comments were made after shareholders earlier Thursday approved a GBP22.5 billion recapitalization that will allow the bank to avoid taking further state support.

Company Web site: http://www.lloydsbankinggroup.com

--By Patricia Kowsmann, Dow Jones Newswires. Tel +44(0)207-842-9295, patricia.kowsmann@dowjones.com

 
 



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