LLOY Lloyds Banking Group Plc

   By Ian Walker 
 

Lloyds Banking Group PLC (LLOY.LN) said Thursday that it will start paying quarterly dividends from 2020, providing its 2.4 million shareholders a more regular flow of payouts.

The U.K. bank said it will pay the first three quarterly dividends each year at equal payments in June, September and December at 20% of the previous year's total.

The fourth-quarter dividend, which will be announced alongside the full-year earnings, is expected to be a higher payout and reflect the group's financial performance for the year.

The bank said it expects to pay its first quarterly dividend June 2020 in respect of the first quarter of that year.

Lloyds said that in addition to a progressive dividend policy it will continue to consider ways to return excess capital to shareholders at the end of each year. The bank announced a 1.75 billion pound ($2.25 billion) share buyback in February alongside its 2018 earnings.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

May 16, 2019 02:36 ET (06:36 GMT)

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