The Redrow Board has declared an interim dividend of 10p, in line with the prior year (2022: 10p). The dividend will be paid on 6 April 2023 to shareholders on the register at the close of business on 24 February 2023. For the full year the company intends to maintain its payout ratio of 33%.
Other financial highlights include:
Revenue similar to record first half last year at £1.031bn (2022: £1.052bn)
Operating margin of 19.3% (2022: 19.5%)
Profit before tax comparable to H1 2022 at £198m (2022: £203m)
Interim dividend maintained at 10p (2022: 10p)
Economic and political uncertainty led to sales rate of 0.38 private reservations per outlet per week for H1 (2022: 0.64)
Encouraging start to the second half with the volume of private reservations per outlet per week for the 5 weeks to 5 February of 0.51
