EDINBURGH (Reuters) - Lloyds Banking Group's (L:LLOY) Chief Executive Antonio Horta-Osorio said restarting dividend payments for the first time since its 2008/09 government bailout would help "restore trust and confidence" in the group.
Speaking at the bank's annual meeting in Edinburgh, Horta-Osorio said the bank's intention is to ask Britain's financial regulator for permission to begin paying dividends again in the second half of the year.
He said dividends would be re-introduced at a "modest" level and the bank aims to pay out at least 50 percent of its earnings through dividends in the medium term.
(Reporting by Matt Scuffham; Editing by Steve Slater)