Lloyds Banking Group PLC (LON:LLOY) said on Monday it has completed the £1bn share buyback programme it announced at its full year results in February.
The bank repurchased more than 1.57bn ordinary shares between March 8 and August 24. The buyback was unveiled at the annual results alongside a 20% dividend hike as the lender posted a 24% jump in statutory profit to £5.3bn.
READ: Lloyds hikes dividend and unveils £1bn buyback as profits jump but miss forecasts
Lloyds returned to private ownership in May 2017 when the government sold off the last of its shares nearly a decade after bailing out the lender during the height of the financial crisis.
The government’s decision to sell its stake followed a successful turnaround of the lender under the leadership of Antonio Horta-Osorio.