Bellway plc announces dividend payments resumed, with a Board proposal to pay a reduced final dividend of 50.0p per share (2019 - 100.0p). The Board expects to increase the quantum of future dividend payments over time, commensurate with the Group's recovery in earnings.
Other financial highlights include:
The Group set aside £46.8 million as an exceptional charge as part of its commitment to help owners of legacy apartment schemes undertake fire safety improvements.
After considering exceptional items, profit before tax fell by 64.3% to £236.7 million (2019 - £662.6 million).
The balance sheet remains robust, with net cash of £1.4 million (2019 - £201.2 million) and committed long-term bank facilities of £545 million, providing resilience and strategic flexibility. Land creditors remain low, at £343.6 million (2019 - £297.9 million).