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Lloyds Banking Group PLC - Edinburgh-based financial services firm - Commences share buyback for up to £2 billion worth of ordinary shares. The buyback, conducted by Morgan Stanley & Co International PLC, will run until December 31. Lloyds says that the purpose of the programme is to reduce its ordinary share capital, and the company intends to cancel all repurchased shares. The buyback, announced alongside its annual results on Thursday, comes after Lloyds lifted its final 2023 dividend to 1.84 pence from 1.60 pence a year prior. Together, the company says that this equates to a total shareholder return of £3.8 billion, or 14% of the group’s market capitalisation. Current stock price: 45.58 pence per share, down 0.8% in London on Friday morning 12-month change: down 12% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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