24th May 2016 12:39
LONDON (Alliance News) - Housebuilder Taylor Wimpey PLC Tuesday said two of its directors sold around GBP4.6 million worth of stock on Monday.
Chief Executive Pete Redfern sold 1.7 million shares, half his 3.4 million holding, at 205.35 pence each. The sale was worth GBP3.5 million before expenses.
Legal Director and Company Secretary James Jordan sold 529,622 shares at the same price. The deal is valued at around GBP1.1 million gross. After the sale, Jordan holds 1.0 million shares.
Taylor Wimpey last Tuesday said the UK new-build housing market remains "very positive", as it upgraded its dividend policy to pay at least GBP150.0 million in ordinary dividends per year, and increased its medium-term financial targets, resulting in a plan to pay out GBP1.30 billion in dividends between 2016 and 2018.
Taylor Wimpey also noted that it has conducted a "comprehensive review" into its strategy and concluded that it will enhance its dividend policy.
The stock was up 3.0% at 210.72p Tuesday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
Copyright 2016 Alliance News Limited. All Rights Reserved.
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