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U.K. confirms plans to sell Lloyds shares to public

May 17, 2016 9:11 AM ETLloyds Banking Group plc (LYG) StockLYGBy: Stephen Alpher, SA News Editor
  • U.K. finance chief George Osborne in January delayed a sale of the government's stake to retail investors until the markets "calmed down."
  • Announcing receipt of a £130M dividend from Lloyds (NYSE:LYG), Treasury's Harriet Baldwin says she's "determined" to make the bank's shares available to the public this year.
  • The government holds a 9.2% stake in Lloyds. With today's payment, it has recovered more than £16.8B, or 80% of its original investment.
  • The ADRs are higher by 1.3% premarket.

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