Lloyds Bank concludes buyback programme announced with full year results

By Bruno Reis

The UK-based retail and commercial bank, Lloyds Bank, has confirmed the completion of the buyback scheme it revealed plans to launch in February.

The bank announced it would be buying back £1bn (US$1.29bn) in shares when releasing its full year results.

Between 8 March and 24 August, Lloyds Bank repurchased more than 1.57bn ordinary shares for the aggregate consideration of £1bn.

SEE ALSO:

“In aggregate between 8 March and 24 August, the company repurchased 1,577,908,423 ordinary shares for an aggregate consideration of GBP1.00 billion,” the firm stated.

The buyback programme was managed by the Swiss investment bank, UBS AG – from its London branch.

When the company announced its results earlier this year, Lloyds Bank also claimed it would raise its dividends to 20%.

The decision was made following successful figures for the 2017/18 year – the bank’s statutory profit increased by 24% to reach £5.3bn ($6.83bn).

Share

Featured Articles

Musk’s multibillion hostile Twitter takeover – the timeline

As billionaire entrepreneur Elon Musk buys Twitter for US$44bn, we draw up a timeline, from the buying of shares to the critical tweets and unsolicited bid

Sustainable moves businesses can make to win customers, IBM

With half of consumers saying environmental sustainability is more important today than a year ago, businesses should up their eco action, says IBM report

Banks and consultancies top workplaces to grow career in UK

Financial and professional services firms rank highest in LinkedIn Top 25 best workplaces list – from Barclays, Lloyds and HSBC, to PwC, Deloitte and EY

Top 10 women in technology in Europe

Leadership & Strategy

The value of ESG links sustainability to business returns

Sustainability

Top 10 European football clubs by revenue 2022 – Deloitte

Corporate Finance