17th May 2016 14:44
LONDON (Alliance News) - The UK government on Tuesday reaffirmed its intention to sell its entire stake in Lloyds Banking Group PLC to the private sector during 2016 and 2017.
In a statement confirming the dividend payment the government has received from Lloyds, the Treasury said its current stake in Lloyds is 9.2%.
It said it is "fully committed" to launching a retail sale of Lloyds shares and to fully returning the bank to private ownership by next year. No specific timeline on when share sales, either to institutional or retail investors, would start again was provided.
The retail sale of Lloyds shares was delayed by the government in 2015 due to general weakness in the banking sector.
The government received a GBP130.0 million dividend payment from Lloyds for 2015, taking total dividends it has received from the bank to GBP318.0 million.
Lloyds shares were up 1.1% to 67.42 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
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