Lloyds Banking Group PLC (NYSE:LYG) announced a semiannual dividend on Monday, March 5th, Wall Street Journal reports. Stockholders of record on Friday, April 20th will be given a dividend of 0.1141 per share by the financial services provider on Friday, June 8th. This represents a dividend yield of 6.01%. The ex-dividend date is Thursday, April 19th. This is a boost from Lloyds Banking Group’s previous semiannual dividend of $0.08.
Lloyds Banking Group has a dividend payout ratio of 26.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Lloyds Banking Group to earn $0.48 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 22.9%.
LYG opened at $3.94 on Friday. Lloyds Banking Group has a 1-year low of $3.17 and a 1-year high of $4.21. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market capitalization of $71,349.50, a PE ratio of 6.71 and a beta of 0.89.
LYG has been the subject of several research reports. Goldman Sachs reissued a “sell” rating on shares of Lloyds Banking Group in a research report on Tuesday, January 9th. Exane BNP Paribas cut Lloyds Banking Group from an “outperform” rating to a “neutral” rating in a research report on Monday, March 5th. JPMorgan Chase reissued a “buy” rating on shares of Lloyds Banking Group in a research report on Thursday, February 1st. Deutsche Bank reaffirmed a “buy” rating on shares of Lloyds Banking Group in a research report on Friday, February 9th. Finally, Morgan Stanley cut Lloyds Banking Group from an “overweight” rating to an “equal” rating in a research report on Wednesday, January 10th. Five analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $4.25.
Lloyds Banking Group Company Profile
Lloyds Banking Group plc is a provider of financial services to individual and business customers in the United Kingdom. The Company’s main business activities are retail and commercial banking, general insurance, and long-term savings, protection and investment. The Company’s segments are Retail, Commercial Banking, Consumer Finance, Insurance and Other.
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