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Lloyds Banking Suspends Dividend, Shares Buyback

Lloyds Banking Group plc (LLOY.L,LYG) said its board has decided that until the end of 2020 it will undertake no quarterly or interim dividend payments, accrual of dividends, or share buybacks on ordinary shares. The move will to help the bank to serve the needs of businesses and households through the extraordinary challenges caused by Covid-19.

Lloyds has agreed to cancel payment of the final 2019 dividend in relation to ordinary shares, in response to a request from the Prudential Regulation Authority and to preserve additional capital for use in serving its clients.

Accordingly, resolution 17 in relation to the declaration of that dividend will be withdrawn from the AGM, scheduled to take place on 21 May 2020.

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