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U.K. Banks Attempt to Reverse Dividend Ban
Wednesday, 15 October 2008 11:41:23 GMT
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U.K. banks receiving capital injections through the government's bank rescue package are trying reverse the dividends ban. Reuters reports that banks receiving government investment (RBS, Lloyds TSB and HBOS) have asked authorities to lift the ban on dividends associated with the investment, quoting anonymous sources familiar with the matter. The government had set out that no dividends will be paid by banks receiving government capital injections until government preference shares are redeemed. When asked if discussions were taking place, a Treasury spokesman said that the "details were set out clearly by both the government and the individual banks on Monday".
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