Lloyds Returns to Annual Profit, Resumes Dividend Payments
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Lloyds Banking Group Plc, Britain’s largest mortgage lender, said it will resume dividend payments after reporting its first annual profit in five years.
Net income was 1.5 billion pounds ($2.3 billion) compared with a 838 million-pound loss a year earlier, the London-based lender said on Friday. That missed the 1.8 billion-pound average estimate of 16 analysts surveyed by Bloomberg after the bank took a 700 million-pound charge for improperly sold payment protection insurance products in the fourth quarter, taking total provisions for 12 billion pounds.