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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
01/17/201715:28:48Securities Registration: Employee Benefit Plan (s-8)
01/12/201711:38:05Securities Registration (section 12(b)) (8-a12b)
01/11/201711:04:36Report of Foreign Issuer (6-k)
01/11/201711:04:36Report of Foreign Issuer (6-k)
01/09/201712:01:12Amended Statement of Beneficial Ownership (sc 13d/a)
01/09/201707:17:53Report of Foreign Issuer (6-k)
01/09/201705:31:00UK Government Cuts Stake in Lloyds Banking Group to 5.95...
01/09/201702:46:00UK Government Cuts Stake in Lloyds Banking Group to 5.95%
01/05/201711:59:53Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
01/05/201706:06:34Report of Foreign Issuer (6-k)
01/05/201706:04:13Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
01/04/201706:04:28Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
01/04/201704:29:00UK Regulator Sees Competition Concerns over Mastercard, VocaLink...
01/03/201707:33:06Report of Foreign Issuer (6-k)
12/21/201603:03:00Lloyds to Buy a BofA Unit -- WSJ
12/20/201607:49:27Report of Foreign Issuer (6-k)
12/20/201604:17:00Lloyds Buys Bank of America's Credit Card Unit MBNA for $2.4...
12/20/201603:11:00Lloyds Buys Bank of America's Credit Card Unit MBNA for $2.4...
12/20/201602:32:00Lloyds Banking Group PLC Acquisition of MBNA Ltd
12/14/201611:55:25Report of Foreign Issuer (6-k)

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