Aug 4 (Reuters) - Lloyds Banking Group ChiefExecutive Antonio Horta-Osorio told potential investors that heexpects to see up to 70 percent of the bank's earnings returnedto shareholders by 2015, the Financial Times reported, citingsources.
The dividend target was revealed during recent shareholderroadshows aimed at attracting investment before the Britishgovernment sells its 39 percent stake in Lloyds, the FT said onits website. ()
The government could sell a tranche of about 5 billionpounds ($7.64 billion)- or a quarter of its stake - toinstitutional investors, such as pension and hedge funds, thisweek, sources told Reuters on Aug. 1.
Shareholders have not received a dividend from Lloyds sinceits ill-fated rescue of rival HBOS in 2008, when it was bailedout by Britain and ordered to halt payouts.
Lloyds declined to comment on the matter.
Lloyds, the country's largest retail bank, last week flaggeda return to payouts for investors, with Horta-Osorio saying heexpects Lloyds to be "a high dividend paying stock" in thefuture. Shares jumped over 8 percent on the news.
Lloyds (LLOY)
