Lloyds Banking Group Delivers on Share Buyback Hopes -- Earnings Review
20 Febrero 2019 - 4:43AM
Noticias Dow Jones
By Adam Clark
Lloyds Banking Group PLC (LLOY.LN) reported its fourth-quarter
and 2018 results Wednesday. Here's what we watched:
REVENUE: Lloyds matched analyst expectations for net income of
17.8 billion pounds ($23.1 billion).
PROFIT: Lloyds' pretax profit of GBP5.96 billion fell short of
analyst expectations of GBP6.4 billion, partly due to a further
GBP200 million charge for claims of missold payment-protection
insurance. Underlying profit of GBP8.1 billion matched
expectations.
WHAT WE WATCHED:
-CAPITAL RETURN: Lloyds satisfied investor hopes with a share
buyback of GBP1.75 billion, larger than consensus expectations.
Added to an annual dividend of 3.21 pence a share, Lloyds is
looking to hand up to GBP4 billion back to shareholders, up 26%
from 2017.
-NET INTEREST MARGIN: Despite tough competition in the U.K.
mortgage market, Lloyds improved its net interest margin to 2.93%
for 2018, from 2.86% the prior year, and kept its guidance to
broadly maintain the margin in the near-term.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
February 20, 2019 05:28 ET (10:28 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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