Here's how I'm aiming for a £4,106 passive income from a boring FTSE 100 dividend stock

Lloyds’ latest update is being used by one investor to build a “boring stock” income case aimed at £4,106 in passive returns. The bank’s Q3 2026 results, released 29 October, showed statutory pre-tax profit up 42% to £6.6bn for the first nine months of the year, with return on tangible equity rising to 17.9%. Underlying net interest income grew 10% to £11.1bn, lifting management’s confidence on full-year targets: net interest income above £14.9bn and a cost-to-income ratio under 50%. CET1 stood at 13.3% end-September. At a 6 November 4.18% dividend yield, the investor estimates annual income of £1,254, rising to ~£1,914 by 2028. Over 30 years, reinvesting dividends could push the investment to ~£102,483, producing ~£4,284 annually, though neither dividends nor earnings are guaranteed.