Perisimmon announces dividend of 40p per share

DividendMax Ltd.

Perisimmon announces dividend of 40p per share

With the major social and economic disruption resulting from the action taken to mitigate the onset of the Covid-19 pandemic, after careful assessment of the capital needs of the business, the Perisimmon Board concluded that the return of surplus capital by way of a 125p per share interim dividend previously scheduled to be paid to shareholders on 2 April 2020 would be cancelled. In addition, the Board postponed the payment of the final dividend for the 2019 financial year of 110p per share that was previously scheduled to be paid on 6 July 2020. This preserved the Company's ability to re-invest this capital in the business should appropriate opportunities arise, generating enhanced value over the longer term in the best long-term interests of all stakeholders. The Board has now announced a  dividend of 40p per share.

Other financial highlights include:

-Strong market positioning across 31 businesses providing the operational capacity to support future growth

-A range and choice of homes in the right locations at affordable prices for our customers, with a private average selling price of £246,208 (2019: £242,912) which is c. 17% below the UK national average

-Strong total forward sales, including legal completions in the second half so far, 21% up on last year

-Substantial work in progress investment with c. 14% more equivalent new home units over last year

-Strong liquidity with current cash of £821m

-High quality land holdings underpinning future production

-Customer care improvement plan operational within the business

-Highly experienced, agile and flexible management team

Companies mentioned