Black Beauty: A thoroughbred quadruped?

Tempus from todays Times:
Tips for 2004
Heading the high-risk category is Lloyds TSB, the bank. It may surprise some to see a well-heeled high-street bank classed with risk warnings on red. But while there is no tangible risk to the viability of the business, the shares could fall sharply if the company is obliged to cut its dividend. Moreover, the current dividend yield of 8.5 per cent is so high as to suggest that many in the market believe a cut is on the cards. That signal is hard to ignore, but the relatively fresh management team has shown every intention of maintaining the payout. Economic and stock market conditions should ease to provide succour for the bank’s financial position, and if confidence in the dividend grows, the shares could climb sharply.