The UK income managers banking on a Lloyds divi bonanza

A number of UK equity income managers have begun building positions in Lloyds Banking Group as the lender prepares to return to the UK dividend register.

The part-nationalised UK bank has not paid a dividend since 2008, but is now attracting the attention of income investors in anticipation of the government selling part of its 39% stake. That move - which could arrive as soon as this week - is the first major step on Lloyds' return to the dividend register and comes as its share price continues to soar. UK equity income managers at AXA IM, Artemis and Jupiter have all backed the stock in the belief payouts will soon recommence. Jamie Forbes-Wilson, manager of the AXA Framlington Blue Chip Equity Income fund, has bought into Lloyds ...