Lloyds Banking Group
Website:
Lloyds Banking Group
Index:
FTSE 100
EPIC: LLOY
Supersector:
Banks
Sector:
Banks
Subsector:
Banks
Market Cap:
£64.16B
Payout Frequency: Semi-Annual
Next Lloyds Banking Group Dividend
Lloyds Banking Group next goes ex-dividend on 09/04/2026. This will be the Final dividend for 2026.
The dividend per share amount is 2.4300p (GBP) and the payment date is 19/05/2026.
Lloyds Banking Group Dividend Analysis and Summary
Key dividend details- Final ordinary dividend: 2.43p per share (FY2025)
- Total ordinary dividend (FY2025): 3.65p per share, up 15% year-on-year (2024: 3.17p)
- Ex-dividend date: 09/04/2026
- Record date: 10/04/2026
- Payment date: 19/05/2026
- Dividend reinvestment plan cutoff: 27/04/2026
- Payout ratio: c.52% (3.65p DPS vs 7.0p EPS), implying ~1.9x earnings cover
- Final dividend cash cost: c.£1,429m (pre any buyback share cancellations)
- Additional capital return: ordinary share buyback of up to £1.75bn (to be completed by 31 Dec 2026)
- Total 2025 capital returns: up to £3.9bn (interim + proposed final dividends + buyback)
- Capital position: CET1 14.0%; pro forma 13.2% after the 2025 dividend and buyback accrual; Board targets c.13.0% by end-2026
- Dividend policy: progressive and sustainable; Board will now review excess capital distributions every half year in addition to the ordinary dividend
- Coverage/earnings: Ordinary DPS (3.65p) covered ~1.9x by statutory EPS (7.0p). FY2025 RoTE 12.9% (Q4: 15.7%); 2026 RoTE guidance >16%.
- Capital generation: 2025 organic CET1 generation 147bps (or 178bps ex motor finance charge); 2026 guidance >200bps, comfortably funding both the progressive dividend and buybacks while paying down to c.13% CET1.
- Balance sheet strength: CET1 14.0% (pro forma 13.2%) vs c.12% regulatory requirement provides headroom to sustain dividends through the cycle.
- Income trajectory: NII guidance c.£14.9bn for 2026; structural hedge earnings expected to rise to ~£7.0bn (2026) and ~£8.0bn (2027), supporting distributable capacity.
- Cost and credit: Cost:income targeted at <50% in 2026; AQR expected to normalize to ~25bps (from 17bps), still consistent with dividend affordability.
Lloyds Banking Group Annual Dividend Yield - 2.99%
Dividends Used in Calculation:
| Ex-Dividend Date | Payment Date | Type | Amount | Currency |
|---|---|---|---|---|
| 10/04/2025 | 20/05/2025 | Final | 2.11p | GBX |
| 31/07/2025 | 09/09/2025 | Interim | 1.22p | GBX |
Total (Annual Dividends Per Share): 3.33p
Dividend Yield = Annual Dividends Per Share (3.33p) ÷ Share Price (111.45p) = 2.99%
Lloyds Banking Group Dividend History
| Ex Dividend Date | Payment Date | Type | Amount | Currency |
|---|---|---|---|---|
| 09/04/2026 | 19/05/2026 | Final | 2.4300p | GBX |
| 31/07/2025 | 09/09/2025 | Interim | 1.22p | GBX |
| 10/04/2025 | 20/05/2025 | Final | 2.11p | GBX |
| 01/08/2024 | 10/09/2024 | Interim | 1.06p | GBX |
| 11/04/2024 | 21/05/2024 | Final | 1.84p | GBX |
| 03/08/2023 | 12/09/2023 | Interim | 0.92p | GBX |
| 13/04/2023 | 23/05/2023 | Final | 1.60p | GBX |
| 04/08/2022 | 12/09/2022 | Interim | 0.80p | GBX |
| 07/04/2022 | 19/05/2022 | Final | 1.33p | GBX |
| 05/08/2021 | 13/09/2021 | Interim | 0.67p | GBX |
| 15/04/2021 | 25/05/2021 | Final | 0.57p | GBX |
| 08/08/2019 | 13/09/2019 | Interim | 1.12p | GBX |
| 04/04/2019 | 21/05/2019 | Final | 2.14p | GBX |
| 16/08/2018 | 26/09/2018 | Interim | 1.07p | GBX |
| 19/04/2018 | 29/05/2018 | Final | 2.05p | GBX |
| 10/08/2017 | 27/09/2017 | Interim | 1.00p | GBX |
| 06/04/2017 | 16/05/2017 | Final | 1.70p | GBX |
| 06/04/2017 | 16/05/2017 | Special | 0.50p | GBX |
| 11/08/2016 | 28/09/2016 | Interim | 0.85p | GBX |
| 07/04/2016 | 17/05/2016 | Final | 1.50p | GBX |
| 07/04/2016 | 17/05/2016 | Special | 0.50p | GBX |
| 13/08/2015 | 28/09/2015 | Interim | 0.75p | GBX |
| 02/04/2015 | 19/05/2015 | Final | 0.75p | GBX |
| 06/08/2008 | 01/10/2008 | Interim | 11.40p | GBX |
| 05/03/2008 | 07/05/2008 | Final | 24.70p | GBX |
| 08/08/2007 | 03/10/2007 | Interim | 11.20p | GBX |
| 07/03/2007 | 02/05/2007 | Final | 23.50p | GBX |
| 09/08/2006 | 04/10/2006 | Interim | 10.70p | GBX |
| 08/03/2006 | 03/05/2006 | Final | 23.50p | GBX |
| 10/08/2005 | 05/10/2005 | Interim | 10.70p | GBX |
| 16/03/2005 | 04/05/2005 | Final | 23.50p | GBX |
| Year | Interim | Final | Special | Currency | Total | Change |
|---|---|---|---|---|---|---|
| 2024 | 1.060 | 1.840 | GBX | 2.900 | 15.070 | |
| 2023 | 0.920 | 1.600 | GBX | 2.520 | 18.300 | |
| 2022 | 0.800 | 1.330 | GBX | 2.130 | 71.770 | |
| 2021 | 0.670 | 0.570 | GBX | 1.240 | -61.960 | |
| 2019 | 1.120 | 2.140 | GBX | 3.260 | 4.480 | |
| 2018 | 1.070 | 2.050 | GBX | 3.120 | -2.500 | |
| 2017 | 1.000 | 1.700 | 0.500 | GBX | 3.200 | 12.280 |
| 2016 | 0.850 | 1.500 | 0.500 | GBX | 2.850 | 90.000 |
| 2015 | 0.750 | 0.750 | GBX | 1.500 | -86.840 | |
| 2008 | 11.400 | GBX | 11.400 | -68.240 | ||
| 2007 | 11.200 | 24.700 | GBX | 35.900 | 4.970 | |
| 2006 | 10.700 | 23.500 | GBX | 34.200 | 0.000 | |
| 2005 | 10.700 | 23.500 | GBX | 34.200 | 45.530 | |
| 2004 | 23.500 | GBX | 23.500 |
Lloyds Banking Group Dividend Calculator
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Lloyds Banking Group Dividend Growth
| Dividend Growth (1Y) | 15.14% |
|---|---|
| Dividend CAGR (5Y) | 44.97% |
| Years of Growth | 4 |
| Payout Ratio | 52.87% |
| Buyback Yield | 3.59% |
| Shareholder Yield | 6.94% |
| P/E Ratio (TTM) | 15.79 |
|---|---|
| Forward P/E | 10.99 |
| P/FCF | 101.63 |
| Earnings Yield | 6.55% |
| FCF Yield | 0.98% |
| ROE | 10.15% |
| ROCE | – |
| Profit Margin | 25.03% |
| Operating Margin | 36.03% |
| Gross Margin | – |