Lloyds Banking Group to restart dividend payments

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.

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