Barratt Developments Interims

[idpickering]

Highlights

· Strong operational and financial performance driven by good customer demand

· The UK's largest housebuilder with total completions3 for the first half at 7,324 plots

· Good growth in profit before tax, up 6.8% to £342.7m with ROCE up by 1.3 ppts to 28.3%

· Approved the purchase of £641.2m (2016: £328.2m) of land reflecting confidence in the market, excellent land opportunities and commitment to disciplined volume growth

· Continued focus on industry-leading customer satisfaction and build quality demonstrated by winning the 2017 Large Builder NHBC Supreme National Award

· New Cambridgeshire division to open, helping to meet high demand for new homes in the region

https://www.investegate.co.uk/barratt-d ... 00034553F/

[monabri]

",the Board is pleased to announce an interim dividend of 8.6 pence per share (2017: 7.3 pence per share). This dividend represents one third of the expected ordinary dividend for the financial year, based on the full year dividend being covered 2.5 times by current consensus earnings."


(Up 17.8%)

And

"The interim dividend will be paid on Friday 18 May 2018 to all shareholders on the register on Friday 20 April 2018."

[Wizard]

",the Board is pleased to announce an interim dividend of 8.6 pence per share (2017: 7.3 pence per share). This dividend represents one third of the expected ordinary dividend for the financial year, based on the full year dividend being covered 2.5 times by current consensus earnings."


(Up 17.8%)

And

"The interim dividend will be paid on Friday 18 May 2018 to all shareholders on the register on Friday 20 April 2018."

And importantly...

When market conditions allow, ordinary dividends will be supplemented with the payment of special dividends. As previously announced the Board intends to pay a special dividend of £175m in November 2018. Additionally, demonstrating the Board's confidence in the business going forward it proposes to pay a further special dividend of £175m in November 2019.

Which they expect to bring the total dividend to Nov 2018 to 43.2p per share (41.7p in 2017).

Terry.

[kempiejon]

Which they expect to bring the total dividend to Nov 2018 to 43.2p per share (41.7p in 2017).

Terry.

My sums gives a rather heady 7.6% yield.

[monabri]

4.5x% or 7.6% inc "special".