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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Lloyds share price: what to know about their upcoming dividend dates

We look at the bank’s recent share price performance, its dividend outlook and the implications of it.

Keep reading to discover:

Lloyds share price: how has it been performing?

Lloyds' most recent earnings, in late July, saw the bank beat expectations with £3.7 bllion pre-tax profit in H1. IG analyst Jeremy Naylor said: "Lloyds Banking Group is domestically orientated, so pretty much insulated from what is happening further east aacross Europe. Despite setting aside £377 million to cover a possible bad debt pile, pre-tax profits came in at £3.7 billion at the first half, better than forecast, but down from last year's £3.9 bllion."

Mr Naylor said that, after the earnings, Lloyds saw its share price rise above its prior line of resistance which was established as a line of support back in December 2021, at 44.3 pence. The Lloyds share price trades at 45.25 pence as of 19th August 2022.

Lloyds' dividend outlook

The bank's interim 2022 dividend is 0.80p per share. The ex-dividend date was August 4 2022, and the payment is due to be made on September 12 2022.

Looking ahead to the final dividend for 2022, based on previous years the ex-dividend date is likely to be in April 2023, with the payment date in May 2023.

Here're Lloyds’ recent and future dividend payments:

Ex-Dividend Date

Type

Payment date

Dividend per share (GBX)

16/08/2018

Interim 2018

26/09/2018

107

14/04/2019

Final 2018

21/05/2019

214

08/08/2019

Interim 2019

13/09/2019

112

N/A

Final 2019

N/A

N/A

N/A

Interim 2020

N/A

N/A

15/04/2021

Final 2020

25/05/2021

57

05/08/2021

Interim 2021

13/09/2021

67

07/04/2022

Final 2021

19/05/2022

133

04/08/2022

Interim 2022

12/09/2022

80

To be confirmed - possibly April 2023

Final 2022

To be confirmed - possibly May 2023

To be confirmed

*Data from Lloyds Banking Group.

For reference, in March 2020, the PRA told major UK banks to suspend the payment of dividends and buybacks until the close of 2020. This directive was made in response to the coronavirus pandemic, with the full breadth and depth of the economic impact at the time being hard to calculate.

The PRA lightened their stance in December 2020, saying that it would not extend the suspension of bank dividends and buybacks.

‘Is not necessary and that there is scope for banks to recommence some distributions should their boards choose to do so, within an appropriately prudent framework,’ said the PRA.

Looking forward, Lloyds management said the intention was 'to accrue dividend and resume progressive and sustainable ordinary dividend policy.'

Implications of the upcoming dividend dates?

For traders and investors, what are the consequences of Lloyds upcoming dividend dates?

In general terms, for investors who want to be entitled to a company’s upcoming dividend, they have to have owned the stock prior to its ex-dividend date.

Example: In the case of Lloyds, should an investor have bought the stock before August 4 (the ex-dividend date), they would have been entitled to the bank's dividend of 80p per share.

However, anyone who bought the stock after August 4 would not be entitled to the bank’s interim dividend.

Looking ahead, it will be key to pay close attention to Lloyds' next ex-dividend date. Based on previous years, that's likely to be in April 2023. Open an IG demo account or full trading or investment account and we'll keep you posted.

Key implication: A company's share price will often fall on its ex-dividend date – generally 'proportional' to the dividends being paid out to its shareholders.

This happens because dividends are typically paid in cash and in such a case, represent a distribution of retained earnings. Ultimately, dividends paid could make up a small or large percentage of a company’s overall market value and therefore trigger differing levels of volatility on the ex-dividend date.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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