Bellway plc announces their proposed total dividend has increased by 7.1% to 75.0p per share (2025: 70.0p).
The ordinary dividend remains a core component of shareholder returns, with the Group maintaining its policy of underlying dividend cover of 2.5 times. For FY26, the Board has recommended a final dividend of 52.0p per share (2025: 49.0p), bringing the total dividend for the year to 75.0p per share (2025: 70.0p), an increase of 7.1%.
Bellway announced an Ex-Dividend date of 3 December 2026, record date of 4 December 2026, and payment date of 13 January 2027.
Other financial highlights include:
- Total housing completions increased by 10.8% to 9,695 homes (2025: 8,749) at an average selling price of £324,404 (2025: £316,412). Total revenue increased by 13.6% to £3,162.2m (2025: £2,782.8m).
- Underlying operating profit increased by 5.6% to £320.6m(2025: £303.5m) and the underlying operating margin reduced to 10.1%1,2 (2025: 10.9%).
- Net adjusting expense relating to legacy building safety, before taxation, totalled £35.2m (2025: £51.8m). This comprised an adjusting finance expense in line with previous guidance, of £13.2m (2025: £14.4m), £32.0m (2025: £37.6m) for the net increase in overall cost estimates, and recoveries of £10.0m (2025: £0.2m).
- Growth in underlying profit before taxation of 5.7% to £305.7m (2025: £289.1m). Reported profit before taxation was £270.2m (2025: £221.9m).
- Adjusted operating cashflow increased by 36.0% to £868.6m (2025: £638.9m), driven by our disciplined management of work-in-progress and our focus on capital efficiency.
- In addition to the ordinary dividend, the Board intends to return £150m to shareholders through a share buyback programme during FY27, with the first tranche of £50m launched in September 2026 and today increased to £75m.
- Bellway has a strong balance sheet with year end net cash of £157.7m1 (2025: £41.8m) and low adjusted gearing, including land creditors, of 3.0% (2025: 8.3%).
