Taylor Wimpey (TW.)

[idpickering]

Results highlights here; viewtopic.php?f=15&t=16473

[idpickering]

This from TMF;

I’d ditch this FTSE 100 stock and collect 10% from the Taylor Wimpey share price

Even among housebuilders, the 10% dividend yield on offer at Taylor Wimpey (LSE: TW) is unusually high. I’ll explain here why this is a stock I’d continue to hold. I’ll also highlight a FTSE 100 share where I think the outlook for dividend investors is poor.

£600m dividend windfall

Taylor Wimpey has confirmed plans to declare £600m of dividends in 2019, a 20% increase from last year’s payout of £500m. At current levels, my sums suggest shareholders should receive a 2019 dividend of 18.3p per share, giving a forecast yield of about 10.5%.

The good news is that the cash needed to fund this payout is already in the bank. The FTSE 100 housebuilder reported net cash of £644m at the end of 2018, up from £511.8m a year earlier.

These figures give us a pretty clear idea of the group’s dividend policy at the moment. Essentially, it’s returning all of its net cash each year to shareholders. That’s good news for now. But what happens if the cash dries up?

https://www.fool.co.uk/investing/2019/0 ... are-price/

[idpickering]

Trading statement for the period covering 1 January 2019 to today

Overview

Pete Redfern, Chief Executive, commented:

"We've made a good start to 2019 and in spite of wider macroeconomic uncertainty, the housing market has remained stable. We are achieving a record sales rate and building a solid forward order book for the year, although we see increased build cost pressures.

We continue to make encouraging progress in embedding our customer-centric strategy and driving significant improvements in our quality and delivery, and it was pleasing to be recognised by the Home Builders Federation (HBF) as a five-star homebuilder in March this year. Our priority is to enhance every step of our customers' buying and aftercare service so that we deliver the highest quality homes and become the first choice homebuilder.

Looking ahead, we are focused on delivering our ambitious strategic goals to drive sustainable growth and create long term value for our customers and shareholders."

https://www.investegate.co.uk/taylor-wi ... 00050150X/

[idpickering]

This from TMF penned by Peter Stephens;

Taylor Wimpey share price: why I think it will keep rising

FTSE 100-listed housebuilder Taylor Wimpey (LSE: TW) released a trading statement on Thursday which showed that its operating conditions have remained robust. The company has made an encouraging start to the 2019 financial year, with demand for new homes continuing to be high.

Although there are concerns about rising costs, the company’s financial position, growth potential within a buoyant wider housing market and its income potential could mean that its share price makes further gains after a strong performance since the start of the year.

https://www.fool.co.uk/investing/2019/0 ... ep-rising/

[monabri]

This from TMF penned by Peter Stephens;

"Taylor Wimpey share price: why I think it will keep rising"

https://www.fool.co.uk/investing/2019/0 ... ep-rising/[/quote]

Down 5.36% .....

[idpickering]

This from TMF penned by Peter Stephens;

"Taylor Wimpey share price: why I think it will keep rising"

https://www.fool.co.uk/investing/2019/0 ... ep-rising/

Down 5.36% .....[/quote]

Yeah, I get the irony monabri. It just goes to show though doesn't it? No-one knows the future of any stock price. I hold TW., and am not disturbed by today's fall. I last topped up last October.

Ian.

[idpickering]

Half Yearly here; https://www.investegate.co.uk/taylor-wi ... 00122785H/

[idpickering]

Trading statement

Pete Redfern, Chief Executive, commented:

"We are on track to deliver full year 2019 results in line with our expectations driven by an industry-leading sales rate. In spite of wider political and economic uncertainty, housing market conditions have remained resilient. We are focused on the delivery of the highest service and build quality to our customers and investing in the sustainability and future capacity of our business.

In the second half, we continued to see good demand for our homes and have built a very strong order book. Looking ahead, our cash generation and financial position are very strong and we reiterate our commitment to returning c.£610 million by way of total dividend to shareholders in 2020."

https://www.investegate.co.uk/taylor-wi ... 00061885T/

[idpickering]

Trading Statement

Overview
Pete Redfern, Chief Executive, commented:
“Our results for the year to 31 December 2019 will be in line with our expectations. Despite an uncertain political and economic backdrop in 2019, we have continued to experience a good level of demand for our homes and trading in the second half of the year was as anticipated. The Group has again delivered a record sales rate and we increased home completions by c.5% in the year.
In 2019, our focus was on strengthening the long term sustainability of the business, further improving our build quality and customer offering, as well as increasing operating capacity and flexibility. In 2020, we will continue with these initiatives and will also prioritise a renewed cost focus and process simplification improvements.”

Available here; https://www.taylorwimpey.co.uk/corporat ... entre/2020

RNS here; https://www.investegate.co.uk/taylor-wi ... 00056661Z/

[idpickering]

Full year results for the year ended 31 December 2019

https://www.investegate.co.uk/taylor-wi ... 00041232E/

[idpickering]

COVID-19 - Remuneration update

The Committee has taken the decision to use its available discretion to amend the application of the Remuneration Policy for 2020 and we announce the following changes to the Executive Directors' remuneration for this year:

- The 2% annual salary increase due to come into effect on 1 April 2020 has been cancelled;

- The Executive Incentive Scheme (annual bonus) has been cancelled and there will be no cash bonus payable in respect of the Company's performance in 2020; and

- A voluntary 30% reduction in base salary and pension for the duration of the Government-imposed lockdown. In the event that the lockdown continues beyond 30 June 2020, the Remuneration Committee will review this particular matter again at that time.

https://www.investegate.co.uk/taylor-wi ... 00063133I/

[monabri]

https://www.constructionenquirer.com/20 ... 0-a-month/

"Taylor Wimpey has opened a £5m hardship fund for self-employed trades to tide them over while they wait to be paid through the Government’s income support scheme

The house builder said it would pay out £600 a month for three months in interest-free loans to around 2,750 workers, although the scheme could be topped up further to meet demand."

[monabri]

Taylor Wimpey hardship fund for the self-employed:

viewtopic.php?p=299114#p299114

[idpickering]

Trading Statement

Here; https://www.investegate.co.uk/taylor-wi ... 00035702K/

Also on HYP Practical for HYPer chat.

[idpickering]

Phased reopening of sales centres and show homes.

Overview

· Housing market conditions have remained stable with signs of increased sales activity and customer interest since the re-start of site activities

· The Government announcement on 're-starting the housing market' means that we can now set out our detailed plans for a return to site sales activity and extend our customer service provision

· Show homes and sales centres will reopen for pre-booked appointments, from Friday 22 May 2020

· Construction is now underway on the majority of our sites across England and Wales

· Extended warranty for customers in lockdown and enhanced support

· New discount scheme launched for care workers

https://www.investegate.co.uk/taylor-wi ... 00097448M/

[idpickering]

Business update

Overview

· Progressing construction on majority of our sites across England and Wales, with Scottish sites now starting preparation for return to construction in line with Scottish Government guidance

· Majority of show homes and sales centres open in England, on an appointment only basis, with a very high level of demand for appointments

· All employees have now returned from furlough

· Health and safety remains top priority and teams are responding extremely well to new ways of working

· Order book remains strong with a healthy increase in reservations made in recent weeks

· Good level of interest in 5% discount scheme for NHS and care workers launched to recognise their significant and continuing contribution during the crisis

· Active in land market, progressing and starting to exchange on a number of sites, with increasing availability of attractive opportunities

https://www.investegate.co.uk/taylor-wi ... 00020401P/

[spiderbill]

TW Retail Offer via PrimaryBid.com - already closed!

Also, no dividend till 2021

After dinner this evening I was catching up with news on the Yahoo financial pages and saw a Reuters release from about 5pm about TW making a Placing of Ordinary Shares - partly by Subscription by Directors and partly by a Retail Offer via PrimaryBid.com.

I went looking for details and found them on Sharecast with a timestamp of 16:39 and immediately went to PrimaryBid - only to find that it had already closed. At that point the information on their site suggested that the price hadn't even been decided. So having barely had time to see the offer, and never knowing the price, the opportunity to invest has already gone. Some opportunity that!

Oh and they'll be restarting dividends in 2021, so nothing for the rest of this year.

cheers
Spiderbill

[monabri]

https://www.investegate.co.uk/taylor-wi ... 38202853Q/

"We have taken decisive and early action to conserve cash and increase flexibility through the COVID-19 pandemic and we are now seeing a significant opportunity to invest in land at attractive prices. We are today launching an approximately £500 million equity raise from a position of strength, to enable us to take advantage of these near term opportunities. These investments will support sustainable future growth and deliver enhanced, long term value to shareholders. "


"Over recent weeks, the Company has agreed terms and approved the acquisition of 12 sites with a broad geographic spread at an operating profit* margin above the Company's medium term target of c.21-22%, and an average return on capital employed** of c.34%"

[Dod101]

Interesting that they have decided to return the funds they received from Government under the furlough scheme. I do not remember the others who have done so as well but I seem to recall at least another two companies who have done the same, ah, one was Bunzl I think.

Good for them I'd say. The other thing is that money is clearly easily found for these fund raisings and despite that the market is quite strong. i suppose all the Government subsidies that are sloshing around must be having some effect.

Dod

[dealtn]

I went looking for details and found them on Sharecast with a timestamp of 16:39 and immediately went to PrimaryBid - only to find that it had already closed. At that point the information on their site suggested that the price hadn't even been decided. So having barely had time to see the offer, and never knowing the price, the opportunity to invest has already gone. Some opportunity that!

Such opportunities are to allow retail investors the same opportunities as institutional ones. If you want to be treated that way I'm afraid you have to act in the same way, be able to move speedily, have funds available immediately, and prepare to invest with only price guidance, not a firm price.

The existence of Primary Bid is an improvement on the situation before, and hopefully will be improved to allow funds at brokers to be able to be utilised and invested, rather than just at bank accounts, but it's not realistic presently to allow retail investors to participate in such offerings other than on near institutional terms.