Dividend for shareholders at rescued bank Lloyds

Lloyds Banking Group is to pay a dividend to its three million shareholders for the first time since it was rescued by the British taxpayer in 2008.

Dividend for shareholders at rescued bank Lloyds

Lloyds Banking Group is to pay a dividend to its three million shareholders for the first time since it was rescued by the British taxpayer in 2008.

The landmark in the lender’s recovery, resulting in payments totalling £535 million, came as it announced a fourfold rise in annual profits to £1.8 billion.

Lloyds was rescued after a £20 billion taxpayer injection in 2008 at the height of the financial crisis led to it being 40% owned by the British Government.

That stake has since been reduced to 24%, meaning the Treasury will pick up £130 million from the company’s 0.75p a share dividend payment.

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