Email response from Lloyds shareholders services16 Feb 2024 11:46
Thank you for your email.
We are sorry to note your disappointment with the share price.
The Group continues to operate in what is an uncertain economic environment, and certain external events (in particular the EU referendum, Covid and the recent, sharp rise in inflation) have impacted the entire UK banking sector, reflected in our share price. Having said that, we are working to deliver for our shareholders. In 2022 our total yield, that included a progressive dividend and a share buyback, was more than 10%. In addition, despite the volatile external factors, we delivered a robust performance at Q3 with a year-to-date return on tangible equity of 16.6%, significantly ahead of our full year guidance of >14%. Alongside, we are investing in and progressing against our strategic aims (including cost savings as mentioned, but also additional sources of revenues), and continue to aspire to higher, more sustainable returns that will ultimately benefit all our stakeholders.
We appreciate your understanding of our position on these matters and value your support. If you have any further questions or concerns, please do not hesitate to contact us.
Kind regards,
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