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DE
Lloyds to return £3.1bn to investors as profits surge past forecasts
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Business Matters
The performance was supported by lower-than-expected bad loan provisions and growing income from non-lending activities.
Lloyds announced a final dividend of 2.43p per share, up from 2.11p a year earlier, equating to a £1.43 billion cash payout to investors.
In addition, the bank revealed plans for a share buyback of up to £1.75 billion, taking total capital returns for the year to more than £3.1 billion.
The bumper shareholder returns are likely to attract attention amid debate over bank capital rules.
In total, Lloyds has set aside almost £2 billion to cover potential compensation costs related to the affair.