The Lloyds Banking Group plc Board has recommended an interim ordinary dividend of 1.06 pence per share, an increase of 15 per cent compared to the first half of 2023, in line with the Board's commitment to capital returns. The Board intends to pay down to its ongoing capital target of c.13 per cent by the end of 2026.
In February this year, the Board approved an ordinary share buyback programme of up to £2.0 billion to return surplus capital in respect of 2023. This commenced in February 2024 and at 30 June 2024, the programme had completed £0.9 billion of the buyback, with c.1.8 billion ordinary shares purchased.
