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 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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