Lloyds Banking Group plc (NYSE:LYG) to Issue Semi-annual Dividend of $0.10

Lloyds Banking Group plc (NYSE:LYG) announced a semi-annual dividend on Thursday, February 27th, Wall Street Journal reports. Investors of record on Friday, April 11th will be given a dividend of 0.1035 per share by the financial services provider on Friday, May 30th. This represents a yield of 4%. The ex-dividend date is Friday, April 11th. This is an increase from Lloyds Banking Group’s previous semi-annual dividend of $0.05.

Lloyds Banking Group has raised its dividend by an average of 28.8% per year over the last three years. Lloyds Banking Group has a dividend payout ratio of 24.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Lloyds Banking Group to earn $0.41 per share next year, which means the company should continue to be able to cover its $0.11 annual dividend with an expected future payout ratio of 26.8%.

Lloyds Banking Group Price Performance

Shares of Lloyds Banking Group stock opened at $3.69 on Friday. Lloyds Banking Group has a 1-year low of $2.30 and a 1-year high of $3.70. The company has a market capitalization of $55.97 billion, a PE ratio of 11.17 and a beta of 1.31. The business has a 50-day moving average of $2.98 and a 200-day moving average of $2.95.

Lloyds Banking Group (NYSE:LYG) last posted its quarterly earnings data on Thursday, February 20th. The financial services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). Lloyds Banking Group had a net margin of 11.45% and a return on equity of 8.46%. The company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $4.76 billion. On average, equities analysts expect that Lloyds Banking Group will post 0.27 earnings per share for the current fiscal year.

About Lloyds Banking Group

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom and internationally. It operates in three segments: Retail; Commercial Banking; and Insurance, Pensions and Investments. The Retail segment offers a range of financial service products, including current accounts, savings, mortgages, motor finance, unsecured loans, leasing solutions, and credit cards to personal customers.