Taylor Wimpey increases its 2014 interin dividend by 9.1% and increases the 2015 cash return by £50 million

DividendMax Ltd.

Taylor Wimpey increases its 2014 interin dividend by 9.1% and increases the 2015 cash return by £50 million

Highlights

Strong progress made towards medium term targets for the Group:

o Operating profit margin* up 300 basis points to 16.1% (H1 2013: 13.1%)

o Return on net operating assets** up 350 basis points to 17.8% (H1 2013: 14.3%)

o Tangible net asset value per share increased by 9.5% to 73.6 pence (H1 2013: 67.2 pence)

Completed 5,766 homes across the UK, up 11%, with a 10% increase in total average selling price to £206k

Acquired 4,336 plots in the UK short term land market in quality locations

Worked with communities, planners and landowners to convert a record 7,195 plots from the strategic pipeline in order to develop much needed new homes across the UK

Contributed c.£116 million to local communities across the UK via planning obligations

Maintenance dividend up 9% reflecting increase in net assets

2015 cash return increased by £50 million to £250 million

Pete Redfern, Chief Executive, commented:

"Our strategy, coupled with the improvements in the UK housing market, has enabled us to significantly improve the quality of our financial performance, whilst delivering sustainable growth of much needed new homes and contributing £116 million to local communities. In early July we began our cash return to shareholders, a key part of our active management of the cycle, and with confidence in the underlying strength and future performance of the business, we are pleased to announce that we now plan to increase our July 2015 payment."

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