10th Feb 2016 11:39
LONDON (Alliance News) - Redrow PLC on Wednesday said Non-Executive Director Michael Lyons bought his first shares in the housebuilder.
Lyons, the former chairman of the BBC Trust, bought 3,000 shares at 397.76 pence each on Tuesday, having been on the Redrow board for a little over a year.
Lyons also is chairman of the English Cities Fund created by the UK government to promote sustainable urban regeneration. Lyons had a long career in local government with the Labour Party and completed a four-year term as chairman of the BBC in 2011.
Redrow on Tuesday declared a doubled interim dividend as it reported a 14% increase in first-half pretax profit, bolstered by the completion of almost 2,200 new homes in the period, 18% higher than last year. The company raised its interim dividend to 4.0 pence per share from 2.0p and said it intends to lift its final dividend to 6.0p from 4.0p, making 10.0p for the full year, up from 6p.
The stock was up 5.9% at 427.64p, one of the best performers in the FTSE 250.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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