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Lloyds Argues with FSA Over Dividend

LONDON -- Lloyds Banking Group PLC (LYG) is embroiled in a dispute with Financial Services Authority over the resumption of its first dividend payments since being bailed out four years ago, the Sunday Times reported. The U.K. watchdog believes the bank, which is 41% state-owned, should hoard capital to protect it from a euro-zone break-up rather than hand dividends to investors, the Sunday Times reported. These views were aired last month when Lloyds met the regulators to discuss dividend resumption, the paper said. Lloyds' management has long stated that the bank will resume dividend payments when the regulatory landscape is clear and the bank can afford it. "We have always said we would like to recommence progressive dividend payments, when the financial position of the Group and market conditions permit, and after regulatory capital requirements are defined and prudently met," a spokesman for the group said. "We work productively with all regulators in that respect." Lloyds hopes to announce a dividend payment in 2013. A spokesman for the FSA was not immediately available for comment. Newspaper Website: http://www.timesonline.co.uk -London Bureau, Dow Jones Newswires; +44 (0)20 7842 9320 Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Lloyds Tsb (LYG)
DateTimeHeadline
09/02/201512:39:31Report of Foreign Issuer (6-k)
08/24/201509:25:00Amended Statement of Beneficial Ownership (sc 13d/a)
08/24/201506:07:08Report of Foreign Issuer (6-k)
08/24/201502:48:00UK Government Cuts Stake in Lloyds Banking Group to 12.97%
08/17/201511:47:49Securities Registration (section 12(b)) (8-a12b)
08/17/201510:15:16Report of Foreign Issuer (6-k)
08/14/201506:53:41Report of Foreign Issuer (6-k)
08/13/201509:53:27Report of Foreign Issuer (6-k)
08/12/201508:28:10Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/11/201512:20:54Report of Foreign Issuer (6-k)
08/11/201506:02:16Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
08/10/201509:24:18Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/06/201507:59:38Form 13f Holdings Report (13f-hr)
08/04/201513:46:20Report of Foreign Issuer (6-k)
08/03/201516:19:25Amended Statement of Beneficial Ownership (sc 13d/a)
08/03/201509:18:45Report of Foreign Issuer (6-k)
08/03/201509:10:03U.K. Treasury Sounds Out Investors Over RBS Privatization
08/03/201502:48:16Lloyds Banking: UK Government Cuts Stake to 13.99%
07/31/201509:02:01Report of Foreign Issuer (6-k)
07/31/201508:07:54Report of Foreign Issuer (6-k)

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