LONDON, April 18 British housebuilder Persimmon
said it plans to pay out a dividend of 10 pence per
share to shareholders in June next year, accelerating a payment
originally scheduled for 2015.
Persimmon, Britain's biggest housebuilder by market value,
said last year that it would return 1.9 billion pounds ($2.9
billion) of capital to shareholders over a nine and a half year
period. It will pay out 227 million pounds this year and had
scheduled the next payment for 2015.
"This intended payment will accelerate approximately 30
million pounds of the 287 million pounds, or 10 pence of the 95
pence per share, payment currently scheduled for 2015," the
company said in a trading update on Thursday.
"This demonstrates the Board's continuing commitment to
deliver significant value to shareholders over the long term on
a sustainable basis."
Persimmon posted a 52 percent increase in pretax profit in
2012. It has beaten a stagnant property market by building homes
in the more affluent south, where house prices have stayed
strong and buying development land cheaply during the recession.
It received a further boost in March after the government
proposed to shoulder the risk of billions of pounds in mortgages
to help struggling home buyers purchase homes with small
The company said it had experienced a good start to the year
and said that enquiry levels had risen to 30 percent ahead of
the prior year, from 24 percent, following the government's
announcement. Its current total forward sales are up 11 percent
at 1.38 billion pounds compared to 2012.
Persimmon also said that its group managing director, Jeff
Fairburn, would succeed its long-standing chief executive Mike
Farley on Thursday as previously announced.
Persimmon shares, which have risen 73 percent over the past
year, closed at 1106 pence on Wednesday valuing the company at
3.38 billion pounds.