The Lloyds Banking Group Board has announced an interim ordinary dividend of 0.92 pence per share, an increase of 15 per cent, in line with the Board's commitment to capital returns. The Board intends to pay down to its capital target within the course of the current plan, by the end of 2024.
In February this year, the Board approved an ordinary share buyback programme of up to £2 billion to return surplus capital in respect of 2022. This commenced in February 2023 and at 30 June 2023, the programme had completed £1.5 billion of the buyback, with c.3.3 billion ordinary shares purchased.
