Watkins Jones announce full year dividend of 8.2p

DividendMax Ltd.

Watkins Jones announce full year dividend of 8.2p

The Watkins Jones Board has proposed a final dividend of 5.6 pence per share.  Taken together with the interim dividend of 2.6 pence per share, this will give a total dividend for the year of 8.2 pence per share.  The dividend is 2.0x covered by adjusted earnings, in line with their stated policy.

Other financial highlights include:

Revenue at £430.2 million, up 21.5%, reflecting increasing contribution from our BTR developments and a strengthening institutional investor forward sales market

Operating profit at £57.3 million, up 10.8%, underpinned by strong operational delivery and tight cost control

Strong cash generation and liquidity position; £124.3 million net cash as at 30 September 2021

Full year dividend of 8.2p, up 11.6%; in line with policy of 2.0x cover

Work on 13 current developments on track; overall build costs remain within forecasts

22,200 beds under Fresh management, up 10%

Record residential for rent secured development pipeline at £1.8 billion, up 20%

Continued progress on Affordable Homes

ESG credentials successfully formalised with launch of 'Future Foundations' ESG programme

Trading in the new financial year in line with expectations

Companies mentioned