Lloyds TSB foundations to share £37.1m

The four Lloyds TSB foundations across the UK will receive £37.1m this calendar year from the Lloyds TSB Group.

The amount, equivalent to last year’s allocation, follows the announcement of the group’s annual results today.

The Lloyds TSB Foundation for England and Wales will receive £26.8m; the Lloyds TSB Foundation for Scotland is allocated £7.2m; the Lloyds TSB Foundation for Northern Ireland will receive £2m; and the Lloyds TSB Foundation for the Channel Islands gets £1.1m.

The independently run Lloyds TSB foundations receive 1 per cent of the Lloyds TSB Group’s pre-tax profits, averaged over three years, in lieu of shareholder dividend.

Linda Kelly, chief executive of the Lloyds TSB Foundation for England and Wales, said: “This is fantastic news for the small underfunded UK charities working at grass-roots level. We can continue to invest in helping charities make a difference to disadvantaged groups working at the heart of the community.”

The four foundations have distributed more than £330m since 1987.

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