The Chairman of Lloyds Banking Group, Win Bischoff, said the company hopes to restart dividend payments as soon as possible.
Bishoff, who this week revealed he would retire in a year's time, also said the government will be able to sell its shares in the part-nationalised bank "over time".
"Once regulatory requirements have been clearly defined and we have prudently met them, and the financial position of the group and market conditions permit, it is our intention to recommence dividend payments," he told shareholders at the bank's annual meeting Thursday.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Bischoff has been Chairman since September 2009 and has been instrumental in the company's radical restructuring and return to profitability.
He is due to step down from the board no later than the shareholders meeting in May 2014.
RD
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Why you fear money – and how to fix it: MoneyWeek TalksPodcast MoneyWeek's digital editor, Kalpana Fitzpatrick, speaks to financial psychotherapist Vicky Reynal about how to change your money mindset for the better.
-
How cancelling unused direct debits could boost your pension by £37,000A new year refresh of your spending could save you money and help boost your pension pot.
