The government will receive a dividend payment from Lloyds of £130 million today, taking total dividends received to £318 million.
The latest dividend payment takes the total the government has recovered from Lloyds for taxpayers to over £16.8 billion. Since the financial crisis the government has recovered over £75 billion of financial assets for the taxpayer.
Economic Secretary to the Treasury, Harriett Baldwin, said:
The £130 million we’ve received today marks another milestone in government’s plan to recover the money taxpayers were forced to put into Lloyds during the financial crisis.
The government has already recovered over 80% of its original investment in Lloyds and today’s dividend payment takes the amount we’ve recovered from the bank to over £16.8 billion.
I am determined to build on this success by making Lloyds shares available to the public this year, so that we can build a share-owning democracy and continue to reduce our national debt.
The government’s stake in Lloyds currently stands at around 9.2%. The government is committed to launching a retail sale of Lloyds Banking Group shares and to fully returning its stake to the private sector in 2016 to 17.