The Redrow PLC Board has declared an interim dividend of 10p, up 67% on the prior year (2021: 6p) as they return to a 33:67 payout ratio. The interim dividend will be paid on 8 April 2022 to shareholders on the register at the close of business on 25 February 2022.
Other financial highlights include:
Record first half revenue of £1,052m (2021: £1,041m)
House price inflation continues to exceed build cost inflation
Operating margin returns to normalised level of 19.5%, one year ahead of previous guidance
EPS up 17% to 48.1p
Value of private reservations for the 27 weeks up 6% to £884m (2021: £836m)
All divisions achieved a 5 star customer recommend score
Further progress in the land market with 3,316 plots added to current land and 2,945 plots to forward land
Progessive start to the second half with the value of private reservations per outlet per week for the 5 weeks to 6 February averaging £417,000 in total and £367,000 excluding a bulk deal in London (2021: £301,000)
Southern division on track to open in summer 2022
