2.9700 +0.01 (0.34%)
After hours: 4:33PM EDT
|Bid||2.9600 x 306100|
|Ask||2.9600 x 301500|
|Day's Range||2.9300 - 2.9700|
|52 Week Range||2.4300 - 3.5200|
|Beta (3Y Monthly)||1.22|
|PE Ratio (TTM)||9.87|
|Forward Dividend & Yield||0.17 (5.15%)|
|1y Target Est||2.88|
Lloyds Bank’s treatment of Sally Masterson was disgraceful. However, Jonathan Ford’s report “ Lloyds whistleblower slams FCA chief for failures following HBOS fraud case ” (May 18) prompts a question: ...
of London Capital & Finance, which sold unregulated “mini-bonds” to retail customers, must not be “kicked into the long grass”. Nicky Morgan, the chair of the select committee to which the Treasury is answerable, expressed dismay that an independent investigation of the scandal will not be concluded for another year. LCF’s collapse has left more than 11,500 bondholders, many of whom were first-time investors or pensioners, wondering if they will ever get their money back.
Lloyds Banking Group chief executive António Horta-Osório has been called before MPs to defend the bank’s pension policies after it was criticised for giving executives substantially higher payments than were available to other staff. Parliament’s work and pensions committee said it had invited Mr Horta-Osório and Stuart Sinclair, chair of Lloyds’ remuneration committee, to give evidence at some point before the summer recess, which starts in July. The bank has been in the spotlight for several months over the size of its executive pension payments.
Let's see if Lloyds Banking Group PLC (LYG) stock is a good choice for value-oriented investors right now from multiple angles.
Lloyds Banking Group has defended the 6.3 million pound pay package awarded to chief executive Antonio Horta-Osorio, after criticism from politicians and investor trade bodies. Horta-Osorio's pay in 2018 has drawn harsh commentary, with particular focus on the generous pension perks that eclipsed those on offer to Lloyds' broader workforce. Addressing questions at the company's annual general meeting, Lloyds Chairman Norman Blackwell insisted executive awards were "fair" and justified given the bank's turnaround in recent years from the brink of insolvency to becoming one of Europe's most profitable lenders.
A whistleblower has heavily criticised the head of the Financial Conduct Authority for failing to investigate her complaints against Lloyds Banking Group, despite his assurances about the seriousness of the case. Sally Masterton wrote last June to FCA chief executive Andrew Bailey — the bookies’ favourite in the race to succeed Mark Carney as Bank of England governor — to protest about her treatment by Lloyds. A one-time employee in its high risk division, she was pushed out of the bank in 2014 after writing an internal report that criticised its handling of a scandal at HBOS, which Lloyds bought in 2009.
Britain's biggest domestic lender Lloyds Banking Group said on Thursday it would pay dividends quarterly from the first quarter of 2020, in a move aimed at distributing income to its 2.4 million shareholders more regularly and efficiently. The new approach will see the lender adopt three equal interim ordinary dividend payments for first three quarters of year followed by, subject to performance, a larger final dividend in the fourth quarter, the bank said in a statement. Lloyds is one of Britain's biggest dividend payers and distributed around 4 billion pounds to investors in 2018.
Lloyds Banking Group’s chairman defended the lender’s generous pay policies on Thursday, arguing they were essential to hold on to top executives after MPs accused the bank of “boundless greed”. “Not many people would do the arduous hours and arduous tasks they do for free”, Norman Blackwell told Lloyds shareholders in Edinburgh. Earlier this week two parliamentary committees had called on investors to vote against Lloyds’ remuneration report, criticising the size of pension payouts for chief executive António Horta-Osório and incoming finance director William Chalmers.
Senior UK lawmakers have accused executives at Britain's biggest domestic lender Lloyds Banking Group of "boundless greed" for failing to give up generous pension perks that eclipse those on offer to its broader workforce. On the eve of the bank's annual general meeting, the heads of parliament's work and pensions and business committees said attempts by Lloyds to win backing for the policy from employees who also hold the bank's stock "smacks of feverish desperation". "Senior executives at Lloyds could bring this sorry episode to an end, today: just give it up," lawmaker Frank Field said in a statement on Wednesday.
A retired High Court judge has been appointed to review a compensation scheme set up by Lloyds Banking Group to pay redress to victims of one of Britain's biggest banking scandals. Sir Ross Cranston, who is also a former MP and solicitor general, will assess whether the scheme that has awarded millions of pounds in compensation was conducted fairly. A representative for Cranston said he had been appointed by Lloyds after City minister John Glen called for a review into the scheme in December, after campaigners raised major concerns.
Senior lawmakers have questioned whether Britain's highest paid bank CEO, Lloyds boss Antonio Horta-Osorio, is receiving too generous pension and share awards. The heads of Britain's work and pensions and business committees wrote a joint letter to Lloyds querying whether the level of awards were fair. The intervention from lawmakers comes as pay levels for the bosses of Britain's lenders come under renewed scrutiny and ahead of Lloyds' annual general meeting on May 16, when investors will vote on whether to approve the bank's pay policy.
Lloyds Banking Group has given up hope of a profit-boosting rise in interest rates before 2020, Britain's biggest mortgage lender said on Thursday, after surprise one-off costs led it to miss quarterly earnings forecasts despite robust underlying profits. A drop in home loans and a 339 million pounds one-off charge for "volatility" - that included costs linked to a legal dispute with asset manager Standard Life Aberdeen - sent Lloyds shares down more than 2 percent in early trading. Lloyds also reported a further 100 million pound charge to cover administrative costs linked to a fresh surge in requests for information on possible payment protection insurance claims ahead of an August deadline for payouts.
This is lower than a consensus of 1.88 billion pounds compiled by the bank, which said it was due to one-time items including a break fee for moving some wealth funds out of Standard Life Aberdeen after a British tribunal ruled against the bank in March. Lloyds is looking to diversify its revenue streams, particularly in wealth and insurance, while its core loans and savings accounts tread water. Last year it awarded Schroders Plc and BlackRock Inc. a mandate to oversee about 109 billion pounds, aiming “to create a market-leading wealth management proposition.” However, the company on Wednesday flagged break fees to move the funds, contributing to a 339 million-pound charge.
Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift card! António de Sousa Horta-Osório became the CEO of Lloyds Banking Group plc (LON:LLOY) in 2011...
With European markets closed for the May Day holiday, the FTSE 100 in London was higher though trading volume was light. How did markets perform? The U.K.’s FTSE 100 (UK:UKX) rose 0.2% to 7,431.2, making up part of Tuesday’s 0.
The change, stemming from a revision by the Bank of England’s Prudential Regulation Authority, would allow the bank to lower its targets for its CET1 ratio, a measure of capital strength, to around 12.5 percent, from 13 percent, according to a statement on Wednesday. Jefferies Group LLC analysts Joseph Dickerson and Aqil Taiyeb said the BOE cut its requirements more than the market expected, leaving Lloyds with about 1 billion pounds of excess capital that could be used for a buyback this year.