Taylor Wimpey Results

[idpickering]

Full year results for the year ended 31 December 2016



Pete Redfern, Chief Executive, commented:

"In 2016 we delivered an excellent performance set against an uncertain political and economic environment that stabilised in the final quarter. The outlook for 2017 is for ongoing stability and incremental price growth, which is a healthy backdrop for our business and our customers."

" Good progress made towards all medium term targets for the period 2016-2018

· Target total of £1.3 billion of dividends to be paid in cash to shareholders over the period

- £355.9 million paid in 2016 (2015: £308.4 million)

- c.£450 million declared for 2017 (subject to shareholder approval)

· Target average annual return on net operating assets** of 30%

- 30.7% in 2016 (2015: 27.1%)

· Target average operating profit* margin of c.22%

- 20.8% in 2016 (2015: 20.3%)

2016 Group financials

· Completed a total of 14,112 homes, including Spain, up 4.8% (2015: 13,470), excluding joint ventures

· 10.9% increase in UK total average selling price to £255k (2015: £230k), excluding joint ventures"

And later;

"As previously announced, and subject to shareholder approval at the 2017 Annual General Meeting, we intend to pay c.£300 million to shareholders in July 2017 by way of a special dividend.

Accordingly, subject to shareholder approval at the 2017 Annual General Meeting, in 2017 shareholders will receive a total dividend of c.£450 million (c.13.8 pence per share), comprising an ordinary dividend of c.£150 million (c.4.6 pence per share) and a special dividend of c.£300 million (9.2 pence per share)."

http://www.investegate.co.uk/taylor-wim ... 00149920X/

disc - I hold.

[monabri]

Reduced dividend from last year's special of 10p? (From memory. Can't open the link). Still a Special is...special so that's nice!

[monabri]

Ahhh ...But Total dividend (ordinary + special) proposed will be 13.8p per share for the year compared to previous 10.91pps. Excellent!

[monabri]

- final ordinary dividend of 2.29 [1.18 last year] pence per share will be paid on 19 May 2017

- 9.20 pence per ordinary share, subject to shareholder approval at the 2017 AGM. This is proposed to be paid on 14 July 2017

[peterh]

From the link above:

In 2016 shareholders received total dividends (including ordinary and special dividends) of £355.9 million (or 10.91 pence per share).
...
Accordingly, subject to shareholder approval at the 2017 Annual General Meeting, in 2017 shareholders will receive a total dividend of c.£450 million (c.13.8 pence per share), comprising an ordinary dividend of c.£150 million (c.4.6 pence per share) and a special dividend of c.£300 million (9.2 pence per share).

Unless I'm reading this wrong, TW are also suggesting the the interim dividend payable later in 2017 will be around 2.3p (4.6p - 2.29p) compared to 0.53p in 2016.