Lloyds Banking Group active, helped by inclusion in HL Select UK Income Shares fund
Lloyds, which is now less than 3% owned by the UK taxpayer, is one of the top five holdings in the fund, which is managed by Steve Clayton and Charlie Huggins
Company
LON:LLOY
Lloyds Banking Group has many household names like Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows. Lloyds Banking Group is a leading UK based financial services group providing a wide range of banking and financial services, focused on personal and commercial customers. The Group’s main business activities are retail, commercial and corporate banking, general insurance, and life, pensions and investment provision. The Group operates the UK’s largest retail bank and has a large and diversified customer base.
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Lloyds, which is now less than 3% owned by the UK taxpayer, is one of the top five holdings in the fund, which is managed by Steve Clayton and Charlie Huggins
Lloyds is highly exposed to cyclical loans losses and risks of Brexit, according to Berenberg.
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The analysts said: “Lloyds has paid a special dividend for two years and we expect this to continue, and to be a larger size. We expect a dividend yield of 8% for each of the next three years“
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UK Financial Investments, which manages the government's stakes in bailed-out lenders, has reduced its holding to 2.95% following further share sales.
FTSE 100 shares ended higher on Wednesday, thanks to buoyancy in the pharma and mining sectors while a US rate card was considered in the bag, priced and sold on the market
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FTSE 100 shares closed lower on Tuesday after investors turned edgy over Brexit plans which hit banking and retail shares as well as took sterling to an 8-week low against the US dollar
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John Allan, who became Tesco chairman in 2015, told the Retail Week Live conference last week that women and people from an ethnic background were in an "extremely propitious period" when it came to getting top jobs in business
Lloyds has put aside a further provision for PPI claims, which will be included in the bank's first quarter results
A 6-7% cash dividend yield is attractive for income investors
The FTSE 100 was down 32 points to 7,342 shortly after 3.15pm on Monday
“We expect improving confidence in margin and loan losses to see the share re-rate”
It's been a rollercoaster week of UK banking results with an underwhelming finale from RBS and Lloyds impressing with its highest profits in a decade
It was the ninth consecutive loss from RBS and worse than City scribes had expected