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LLOYDS LOSERS
LLOYDS’ small shareholders face further pain as the bank warned yesterday it would not be paying a dividend until 2012.
Europe has made the bank sell 600 branches and nearly a fifth of its mortgage market share to reduce its market dominance.
And yesterday Lloyds unveiled plans to raise £13.5billion through the UK’s largest-ever rights issue after the Treasury rubber-stamped its plans to escape the Government insurance scheme to cover toxic assets.
The new shares will be sold at a steep discount, about 40p to 50p each.
The bank’s shares rose yesterday as investors welcomed upbeat comments on Lloyds’ prospects.
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