Lloyds Banking Group PLC (NYSE:LYG) Declares $0.07 Semi-annual Dividend

Key Points

• Lloyds Banking Group PLC announced a semi-annual dividend of $0.07, with a dividend yield of 3.7%, payable on September 19th to stockholders of record on August 4th.
• The bank reported $0.14 earnings per share for the latest quarter, exceeding estimates, with revenue of $6.13 billion compared to analyst expectations of $4.86 billion.
• Equities analysts have shifted their ratings for the stock, with several upgrading it from "hold" to "buy," resulting in an average rating of "Moderate Buy."

Lloyds Banking Group PLC (NYSE:LYG - Get Free Report) announced a semi-annual dividend on Monday, July 28th, Wall Street Journal reports. Stockholders of record on Monday, August 4th will be given a dividend of 0.0655 per share by the financial services provider on Friday, September 19th. This represents a dividend yield of 370.0%. The ex-dividend date is Monday, August 4th.

Lloyds Banking Group has a dividend payout ratio of 43.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Lloyds Banking Group to earn $0.41 per share next year, which means the company should continue to be able to cover its $0.22 annual dividend with an expected future payout ratio of 53.7%.

Lloyds Banking Group Price Performance

Shares of NYSE LYG traded down $0.11 during midday trading on Friday, reaching $4.12. The company's stock had a trading volume of 5,449,335 shares, compared to its average volume of 24,205,436. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.53 and a current ratio of 1.44. Lloyds Banking Group has a fifty-two week low of $2.56 and a fifty-two week high of $4.34. The business's 50 day moving average price is $4.19 and its two-hundred day moving average price is $3.78. The company has a market cap of $61.75 billion, a P/E ratio of 10.29, a P/E/G ratio of 0.67 and a beta of 0.99.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.14 EPS for the quarter, beating the consensus estimate of $0.10 by $0.04. Lloyds Banking Group had a net margin of 17.51% and a return on equity of 9.28%. The business had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $4.86 billion. On average, analysts forecast that Lloyds Banking Group will post 0.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LYG has been the topic of several research analyst reports. Wall Street Zen raised shares of Lloyds Banking Group from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Keefe, Bruyette & Woods raised shares of Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy".

Lloyds Banking Group Company Profile

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom and internationally. It operates in three segments: Retail; Commercial Banking; and Insurance, Pensions and Investments. The Retail segment offers a range of financial service products, including current accounts, savings, mortgages, motor finance, unsecured loans, leasing solutions, and credit cards to personal customers.