Taylor Wimpey ( Dividends cancelled)

[monabri]

In response to the government's actions to combat the COVID-19 pandemic, Taylor Wimpey closed all sales offices on 23 March. Construction sites will begin closing down today, 24 March.

The group is implementing measures to preserve cash, including cancelling its proposed final and special dividends.

https://www.londonstockexchange.com/exc ... 74891.html

The RNS on the LSE was titled " Notice of AGM" ...no hint of the cull until one read it! Sneaky?


I'd expect others to follow!

[dealtn]

https://www.londonstockexchange.com/exc ... 74891.html

The RNS on the LSE was titled " Notice of AGM" ...no hint of the cull until one read it! Sneaky?

The very first line, and in bold, is "Response to COVID-19, and dividend and AGM update "

That's hardly being sneaky and trying to hide information about the dividend in my book. Not sure who does the title, is that LSE or the companies? It might be the former given how many of them are near identical.

[monabri]

I would imagine that it is company that provides the title...not LSE ( why would the LSE create the message for the company..what if they got it wrong?)

Hence, they could have said something like " covid update - dividend suspension " not just a bland "Notice of AGM".

[dealtn]

I would imagine that it is company that provides the title...not LSE ( why would the LSE create the message for the company..what if they got it wrong?)

Hence, they could have said something like " covid update - dividend suspension " not just a bland "Notice of AGM".

Well the "R" in RNS is for Regulatory, and a "Notice of AGM" is a regulatory piece of news, neither of which apply to "covid update" or "dividend suspension" (unless I think it had already been approved at the company AGM). So, I don't think it's an issue. They could have released 2 RNSs, but that would open them to the accusation of "hiding" the dividend suspension in a second release.

[idpickering]

Thanks for this monabri. I hold these, and although this is disappointing, it's the only cancellation of dividends I've had thus far due to Covid-19.
This cancellation won't stop me holding their shares in my HYP though, but I shan't be buying more TW. until they recommence paying dividends again.

Ian.

[idpickering]

The Directors will still get their fat cheque bonuses though no doubt?

Ian.

[Wizard]

House builders have all been hit very hard by Mr Market. I think reasonable to assume they will all cancel their dividend at least in the short term.

[dealtn]

The Directors will still get their fat cheque bonuses though no doubt?

Ian.

Feel free to vote against it, Resolutions 19 and 20.