Barratt Developments plc have declared an interim dividend of 10.2 pence per share (2022: 11.2 pence per share). The interim dividend will be paid on Thursday 18 May 2023 to all shareholders on the register on Tuesday 11 April 2023. Shareholders who wish to elect for the Dividend Reinvestment Plan should do so by 25 April 2023. The Board, in line with its existing dividend policy, continues to target a full year ordinary dividend based on an ordinary dividend cover of 2.0x adjusted earnings per share.
Other financial highlights include:
Strong operational performance in the first half, delivering 6.9% growth in total home completions to 8,626 with adjusted profit before tax up 15.9% at £521.5m and reported profit before tax also advancing 15.9% to £501.5m.
Continuing focus on build quality, health and safety and customer service recognised as the Group was named 'Large Housebuilder of the Year' for the third time in four years.
Industry leadership on Sustainability recognised with the Group joining the CDP's Climate Change 'A' List for Leadership, one of just 283 companies worldwide and the top-rated UK housebuilder.
Strong balance sheet with net cash of £969.1m (HY22: £1,131.7m) after dividend payment of £259.8m and £100.5m of share repurchases.