Lloyds Climbs to Highest Since Brexit on Dividend Boost, Outlook
- Lender reports a surprise climb in adjusted pretax profit
- Lloyds says net interest margin will be above 2.7% this year
Lloyds Posts 4Q Profit as It Boosts Dividends
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Lloyds Banking Group Plc jumped to the highest level since the Brexit vote after it boosted the dividend and said lending margins would hold up amid record-low U.K. interest rates.
Shares in Britain’s largest mortgage lender climbed as much as 4.1 percent to their highest price since June 23. Excluding one-time charges, pretax profit rose 2 percent to 1.79 billion pounds ($2.23 billion), topping the 1.71 billion-pound average of seven analyst estimates compiled by Bloomberg News.