The Francis G. Lloyd Memorial trophy was and still is the only perpetual trophy awarded, and is considered the most prestigious trophy offered through the Scottish Terrier Club of America. First awarded in 1921, it is named for Francis G. Lloyd, an early President of the STCA. At one time the trophy was given to the winning owner to possess for one year. However, due to its increasing value, the trophy is stored in a bank vault and is displayed only at the Annual Meeting in October. A plaque is given to the owner(s) of the winning Scottish Terrier for permanent possession. The dog's name and its owner(s) are engraved on the trophy. Reading the names on this trophy is to read a history of the Scottish Terrier in the United States, since the names go back to 1921.

• Trophy points are given to each Scottish Terrier Best of Breed winner at all-breed, Group and Specialty shows.
• The number of trophy points earned by each Best of Breed winner at any show is equal to the highest number of championship points earned by any Scottish Terrier class dog or bitch. When there is class competition in both sexes, the number of trophy points awarded will be equal to the championship points earned by the Best of Winners. The maximum number of trophy points that may be earned in any show is five.
• The Lloyd Trophy is awarded to the Scottish Terrier dog or bitch earning the highest total number of trophy points between January 1 and December 31 of each year.
• Points are earned by the dog and not the owners so a change of ownership will not affect a dog's standing as long as all owners and co-owners are members in good standing at the time any trophy points.