Lloyds Banking Group PLC Plans Dividend of $0.08 (NYSE:LYG)

Lloyds Banking Group PLC (NYSE:LYG) announced a dividend on Thursday, July 30th. Stockholders of record on Monday, August 10th will be paid a dividend of 0.084 per share by the financial services provider on Friday, September 25th. This represents a dividend yield of 272.0%. The ex-dividend date of this dividend is Monday, August 10th.

Lloyds Banking Group has raised its dividend payment by an average of 0.1%annually over the last three years. Lloyds Banking Group has a dividend payout ratio of 49.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Lloyds Banking Group to earn $0.62 per share next year, which means the company should continue to be able to cover its $0.25 annual dividend with an expected future payout ratio of 40.3%.

Lloyds Banking Group Price Performance

Shares of NYSE LYG traded down $0.07 during trading hours on Friday, reaching $6.17. 13,478,861 shares of the stock traded hands, compared to its average volume of 20,324,188. The company’s 50-day simple moving average is $5.73 and its two-hundred day simple moving average is $5.55. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.09. Lloyds Banking Group has a 52-week low of $4.05 and a 52-week high of $6.34. The company has a market capitalization of $89.95 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 0.61 and a beta of 0.87.

Lloyds Banking Group (NYSE:LYG) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). Lloyds Banking Group had a return on equity of 10.63% and a net margin of 25.11%.The company had revenue of $6.57 billion during the quarter, compared to analysts’ expectations of $6.86 billion. Equities research analysts forecast that Lloyds Banking Group will post 0.53 EPS for the current year.

Analysts Set New Price Targets

LYG has been the subject of several research analyst reports. Citigroup reaffirmed a “buy” rating on shares of Lloyds Banking Group in a report on Thursday, July 16th. Morgan Stanley restated an “overweight” rating on shares of Lloyds Banking Group in a research report on Tuesday, June 30th. Berenberg Bank initiated coverage on shares of Lloyds Banking Group in a report on Wednesday, June 24th. They issued a “hold” rating on the stock. UBS Group upgraded shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Thursday, April 30th. Finally, Keefe, Bruyette & Woods downgraded Lloyds Banking Group from a “moderate buy” rating to a “hold” rating in a research report on Friday, July 17th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Lloyds Banking Group Company Profile

Lloyds Banking Group plc is a UK-based banking and financial services company that provides a broad range of retail, commercial and insurance products. Its principal consumer-facing brands include Lloyds Bank, Halifax and Bank of Scotland, through which it offers current accounts, savings, mortgages, credit cards and personal loans. The group also delivers services to small and medium-sized enterprises (SMEs) and larger corporate clients, supplying business accounts, lending, payments and cash-management solutions.

In addition to core banking, Lloyds operates a significant wealth and insurance arm under the Scottish Widows brand, offering life insurance, pensions, investment and retirement planning products.